September 28, 2017 / 2:33 PM / 3 months ago

Zimbabwe to prosecute unlicensed foreign currency traders - finmin

HARARE, Sept 28 (Reuters) - Zimbabwe gazetted exchange control rules on Thursday empowering police to arrest unlicensed foreign currency traders, with those found guilty facing up to ten years in prison, Finance Minister Patrick Chinamasa said.

“Trading in currency without a licence is an offence. The regulations make it clear that anyone who deals in currency as commodity either at a premium or at a discount commits an offence,” Chinamasa said in a statement to parliament.

Chinamasa also said the central bank was investigating suspicions that commercial bank officials were aiding illegal FX trading. (Reporting by MacDonald Dzirutwe; Writing by Olivia Kumwenda-Mtambo)

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