Banks comply with RBZ's FCAs directive
October 18, 2018
Local banks have started creating separate Nostro Foreign Currency Accounts (FCAs) and Real Time Gross Settlement (RTGS) FCAs in line with a directive issued by the Central Bank early this month.
Banks Given Two Weeks To Separate Nostro Foreign Currency Accounts And RTGS Deposits
October 01, 2018
Reserve Bank of Zimbabwe (RBZ) governor John Mangudya has ordered banks to separate Nostro foreign currency accounts (FCAs) from the real-time gross settlement (RTGS) deposits. This effectively means the Nostro FCA will be for actual United States Dollars while the RTGS accounts will be for electronic money and bond notes.