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Dr Gono warns banks against money laundering

Dr Gono warns banks against money laundering
By George Chellah in Harare, Zimbabwe
Friday January 04, 2008 [03:00]

Reserve Bank of Zimbabwe (RBZ) governor Dr Gideon Gono has warned banks against money laundering. And Dr Gono assured the nation that the cash shortages facing the country would soon end. Speaking in Harare at the RBZ headquarters, Dr Gono urged banks to observe the country's anti-money laundering laws and report any suspicious deals.

"Our message and advice to the financial sector is that we have talked to one another for a long time now, we have appealed to your good selves long enough and we issued many circulars and guidelines on the subject of money-laundering and other undesirable banking practices," Dr Gono said.

"Now is not the time to continue with such talking or lecturers anymore but action and as a central bank we shall not be found wanting in this direction so that together and in partnership, we can rid our economy of the cash-hoarding and money laundering menace."

He said the central bank felt let down by some stakeholders who continue to run underhand schemes meant to counter and scuttle well-meant programmes.

"Over the outlook period, the Reserve Bank will continue to stand guard and work tirelessly to reduce inflation, stabilise and grow the economy, whilst paying sufficient attention on other critical areas requiring extraordinary interventions for the survival of the economy," Dr Gono said.

"Through this refined policy position on the currency front, as the central bank, we are very confident that the current cash shortages will end, allowing our productive sectors to run smoothly without payment constraints."
Dr Gono said the RBZ would continue to be alert.

"The Reserve Bank is intensifying its bank supervision, exchange control and anti-money laundering surveillance systems so as to ensure that the economy does not relapse into the cash shortages mode again," Dr Gono said.

"We hail the collaborative efforts of various arms of government, including the Zimbabwe Revenue Authority (ZIMRA), Zimbabwe Republic Police (ZRP), the Anti-Corruption Commission, and the judicial system, exhorting them to remain hard and steadfast in the present campaign to deter the destructive economic crimes that threaten our economy.

"As a bank, difficult as things are, we continue to be guided by the never-say-die spirit which resides in the undying slogan "failure is not an option"."

Meanwhile, Zimbabwean junior doctors have returned to work after staying away from work since early December last year.

Parirenyatwa Group of Hospitals chief executive officer, Thomas Zigora announced yesterday that the doctors had resumed work.

He said some medical cases were still being referred to Chitungwiza Central Hospital.
Junior doctors and nurses went on strike early December last year.

Labels: BANKING, GIDEON GONO, ZIMBABWE

posted by MrK @ 6:37 AM