- May 2, 2019
- Posted by: admin
- Category: Current News
Active FX trading in Zimbabwe has not taken place since 2003 mainly due to economic challenges over the period to 2009 and the subsequent introduction of the multiple currency regime. A number of the current dealers in the market are, therefore, very new to the real and active FX trading. This has resulted in the creation of potential skills gap in the market, which if not corrected would affect the development of a vibrant and robust interbank Foreign Exchange Market.
Following the Monetary Policy Statement of 20th February 2019 that established an inter-bank foreign exchange market to formalise the selling and buying of foreign exchange, MEFMI partnered with RBZ to deliver the first FX trading workshop which ran from 26 – 27 April 2019. The main objective of the workshop was to prepare the Banking sector for interbank trading. The event attracted 84 participants from the Zimbabwe banking fraternity, mainly consisting of Treasury Dealers, compliance personnel and risk managers.
Going forward, the RBZ will continue to monitor developments in the market to identify the critical training needs. This will set the stage for planning courses to be developed and delivered to further strengthen the policy reforms taking place in the Zimbabwe financial markets. To this end, MEFMI stands ready to continue partnering with the RBZ.