The Bank wishes to highlight the key measures outlined in Foreign Exchange Directive FXD4 of 2025, issued by the Reserve Bank of Zimbabwe on 8 August 2025. This Directive reinforces and clarifies the foreign exchange policies announced in the Mid-Term Monetary Policy Statement of 7 August 2025, with the objective of ensuring full compliance with prevailing Exchange Control regulations.
Key Highlights
- Exporters’ Foreign Currency Retention
- Retention level remains at 70%.
- 30% of export receipts must be surrendered to the Reserve Bank within 24 hours of receipt.
- Compliance Priorities
The Reserve Bank has flagged repeated violations, including:
- Delayed or non-acquittal of export/import documentation (must be within 90 days).
- Falsified or incomplete documentation.
- Unregistered external loans and service agreements.
- Unauthorised cross-border investments.
- Mis-invoicing of trade transactions.
- Abuse of the Willing-Buyer Willing-Seller (WBWS) Interbank Market.
Penalties for Non-Compliance
- Penalty: 1% of the transaction amount or US$100,000 (or ZiG equivalent), whichever is greater.
We encourage you to review your internal processes to ensure alignment with current Exchange Control regulatory requirements. Should you require any clarification or support, we remain at your disposal to assist in ensuring Exchange Control compliance and avoiding penalties.