THE Reserve Bank of Zimbabwe (RBZ) has authorised InnBucks, which is part of Simbisa Brands, is to resume operations after it was shut down on April 20, 2022 for lack of a licence to offer foreign currency transactions.

In a statement yesterday, InnBucks said:  “We are pleased to advise all our customers and stakeholders that the regulators (RBZ) have authorised the launch of the InnBucks product.”

The company returns as a registered microfinance bank and will operate as a product of Ndoro Microfinance Bank Limited.InnBucks also advised its existing account holders to retain their accounts, which would be automatically reactivated.

Its new cash withdrawal charges are pegged at 2%, sending money from US$1 to US$5 will be charged 1%, and all amounts above US$5 will be charged at 5%.

Single limit transactions will be US$250, while monthly transactions limit will be U$1 000.

Soure Newsday