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    Banks Notice On ZiG ProcessFinal

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    Peter
    ZIMRA is realigning its systems to Zimbabwe's new currency, the ZiG. All ZWL values will be converted to ZiG equivalents using the RBZ exchange rate. ZIMRA systems will accept USD payments until conversion is complete. Banks should not accept ZWL payments and will go through testing before interfacing with ZIMRA systems.

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    Banks Notice On ZiG ProcessFinal

    Uploaded by

    Peter
    78 views2 pages
    ZIMRA is realigning its systems to Zimbabwe's new currency, the ZiG. All ZWL values will be converted to ZiG equivalents using the RBZ exchange rate. ZIMRA systems will accept USD payments until conversion is complete. Banks should not accept ZWL payments and will go through testing before interfacing with ZIMRA systems.

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    Banks Notice on ZiG ProcessFinal (1)

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    ZIMRA is realigning its systems to Zimbabwe's new currency, the ZiG. All ZWL values will be converted to ZiG equivalents using the RBZ exchange rate. ZIMRA systems will accept USD payments until conversion is complete. Banks should not accept ZWL payments and will go through testing before interfacing with ZIMRA systems.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    78 views2 pages

    Banks Notice On ZiG ProcessFinal

    Uploaded by

    Peter
    ZIMRA is realigning its systems to Zimbabwe's new currency, the ZiG. All ZWL values will be converted to ZiG equivalents using the RBZ exchange rate. ZIMRA systems will accept USD payments until conversion is complete. Banks should not accept ZWL payments and will go through testing before interfacing with ZIMRA systems.

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    © All Rights Reserved
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    You are on page 1of 2

    IMPORTANT NOTICE TO ALL BANKS

    Alignment of ZIMRA Systems to the new ZiG Currency


    Following the 2024 Monetary Policy Statement announcement by the Reserve Bank
    Governor, ZIMRA is in the process of realigning its systems to the new currency.

    ZIMRA Approach to the configuration of the new currency:

    1. The currency configurations below will be implemented in all ZIMRA systems.


    a. Code is ZWL
    b. Description - ZiG (Zimbabwe Gold Currency)
    2. All ZWL values in the ZIMRA systems shall be converted to the ZiG equivalent using the
    RBZ stipulated rate. This is currently work in progress and banks will be notified when
    the process finishes.

    Transitional Activities:

    1. ZIMRA systems are currently activated for USD payments from the banks for both
    Domestic Taxes and Customs & Excise until conversion process is completed.
    2. Banks are not expected to accept any ZWL payments for ZIMRA purposes whilst
    conversion is in progress.
    3. After the conversion process by the bank they can accept ZiG and Foreign currency
    payments into ZIMRA Single Accounts (Domestic Taxes) and Customs accounts.
    4. Banks are expected to go through a testing and certification process before going live on
    their interface to ZIMRA systems to ensure compliance.
    5. Banks are expected to forward to ZIMRA all failed ZiG notifications for Domestic Taxes
    payments (Single Accounts) when the interface goes live.

    All Banks are encouraged to contact the following if there are any challenges:

    ZIMRA ICT Team contact details

    Name Email Mobile


    Number
    Nigel Mafukidze nmafukidze@zimra.co.zw +263 773 382 137
    Sudden Svosve ssvosve@zimra.co.zw +263 773 466 725
    Tafadzwa Mbawa tmbawa@zimra.co.zw +263 712 840 063
    Mr. S. Moyo shamimoyo@zimra.co.zw +263 712 840 065
    ZIMRA Finance Team contact details

    Name Email Mobile


    Number
    Gladys gkavhukatema@zimra.co.zw +263 779 136 965
    Kavhukatema
    Brian Nyamayaro bnyamayaro@zimra.co.zw +263 772 876 440
    Mr. L. Karonga lkaronga@zimra.co.zw +263 712 617 676
    Mrs. E. Chitanda echitanda@zimra.co.zw +263 712 903 840

    My Taxes: My Duties, Building My Zimbabwe!!

    www.zimra.co.zw @Zimra_11 ZIMRA.ZW Contact Centre 585/ 08688007614 contactcentre@zimra.co.zw

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