Innbucks ordered to stop operating

Online Desk |  1 year ago | local

The Reserve Bank of Zimbabwe (RBZ) has directed foreign currency Money Transfer Agency, Innbucks to stop operating after it failed to register in compliance with regulatory requirements. 

In a statement on Wednesday night, the RBZ Governor Dr John Mangudya said the order is with immediate effect.

The Innbucks facility is a foreign currency money transfer agency where people could send or receive money using one’s mobile number, but would redeem it at Simbisa Brands outlets either through cash or products. 

The facility had started to endear itself with members of the public given its low charges.