THE
InnBucks had become one of the country's main US dollar transfer platforms, less than a year after its launch.
The ban is with immediate effect.
In a statement Tuesday, RBZ governor John Mangudya said InnBucks failed to register the platform despite repeated efforts by the central bank to get it to comply with the regulations.
"The RBZ advises the public that it has ordered
"In
Customers with funds in their InnBucks accounts will however be allowed to withdraw their funds or use them within the next 30 days.
"The cessation of the service means customers shall no longer be able to deposit funds into InnBucks accounts or transfer the funds to third parties. Customers may redeem their balances for cash or goods at
Mangudya also announced in a seperate statement that the RBZ had suspended MetBank from conducting foreign currency trading for flouting exchange control regulations.
More to follow***
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