CBZ.zw | Press Statement

Published: 29 November 2017
CBZ Holdings Limited (the Company) wishes to advise its stakeholders of a recent newspaper article stating that its subsidiary, CBZ Bank Limited (the Bank) is facing possible imposition of a financial penalty by the United States Department of the Treasury's Office of Foreign Assets Control (OFAC)

The Company acknowledges that OFAC issued a Pre-Penalty Notice which required the Bank to respond to their observations relating to transactions carried out by the Bank on behalf of its clients banking with other institutions. For the record, these payments by the Bank were for clients that are not on the OFAC Sanctions List and as such the Bank has shown cause why it should not be subjected to any penalty.

The Company wishes to assure its clients and other stakeholders that the Bank continues to operate and conduct its business normally with both local and international correspondent relationships.
- CBZ
Tags: CBZ,

Comments

Latest News

Latest Published Reports

Latest jobs