Agribank, IDBZ off sanctions

THE United States has struck two Zimbabwean banks off its sanctions list in a move seen as the beginning of a policy change with the country.

According to the US Department of the Treasury yesterday, the Office of Foreign Assets Control (OFAC) issued a licence authorising all transactions involving the Agricultural Development Bank of Zimbabwe (Agribank) and Infrastructure Development Bank of Zimbabwe (IDBZ).

“Today, (yesterday) the Office of Foreign Assets Control (OFAC) issued a general licence authorising all transactions involving two banks in Zimbabwe, Agricultural Development Bank of Zimbabwe and Infrastructure Development Bank of Zimbabwe, provided the transactions do not otherwise involve any person whose property and interests in property are blocked,” read the statement.

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