Monetary Policy MP 2018

Provide 7% tax-free savings bonds on non-resident transferable funds

Achieved
Feb 2018

Mangudya in bid to woo investment

https://bulawayo24.com February 10, 2018

Mangudya said the central bank would introduce a 7% tax-free savings bond on non-resident transferable funds. "In order to provide return on remittable funds currently held in Non-Resident Transferable Accounts in respect of in-country funds such as dividends and profits due to non-residents that cannot be immediately remitted as a result of the current foreign currency shortages, such funds can now be invested in tax-free savings bonds at a coupon rate of 7%. This compensation process is necessary to assure investors of returns on their idle funds seated at banks," he said.