RBZ Dismisses Claims of Targeting Private Safe Deposit Boxes

Harare, Zimbabwe – The Reserve Bank of Zimbabwe (RBZ) has dismissed claims that it intends to seize safe deposit boxes belonging to private businesses and individuals, following reports published in a local newspaper.

In a statement released on Wednesday, RBZ Governor Dr. John Mushayavanhu reassured the public that the central bank respects property rights and has no plans to interfere with privately held assets.

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The controversy stems from remarks made during the February 2025 Monetary Policy Statement, in which Dr. Mushayavanhu expressed concern over the misuse of safe deposit boxes and underground banking systems. He urged individuals and businesses to take advantage of competitive interest rates offered on savings and time deposits instead of hoarding cash.

While the RBZ remains committed to promoting financial transparency and stability, the bank emphasized that any measures taken will be in line with legal frameworks and respect for private property.

This clarification comes amid ongoing efforts to strengthen Zimbabwe’s financial sector and encourage formal banking participation. The central bank continues to engage stakeholders to ensure confidence in the banking system.

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Minister of Justice, Legal and Parliamentary Affairs, Hon. Ziyambi Ziyambi
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