Sunday, 29 October 2017

Zimbabwe: CBZ Bank hit with U.S.$385m penalty

Zimbabwe: CBZ Bank hit with U.S.$385m penalty

29 October 2017, Harare — Zimbabwe’s biggest bank by asset base, CBZ Bank, has been slapped with a staggering US$3,8 billion fine by the United States Treasury’s Office of Foreign Assets Control (Ofac) for thousands of financial transactions done on behalf of ZB Bank then under economic sanctions imposed by the world’s largest economy, the …

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