Request any song you want for FREE! All songs requested will be tuned to a 432 Hz frequency.

Request Now

TETELESTAI | 1-800 Numbers

This is where the 800#'s will be listed which will be included in the TETELESTAI post once published.

(Note: The TETELESTAI post is the official "Go" for redemption/exchange. Despite Yosef's departure, it will still be sent out for publication when the time comes.)

Guest Posting Now Available

Dinar Chronicles is now allowing viewers to guest post. If you wish to speak your mind and write a post/article about the current situation relating to Iraq, the RV, the GCR and so on. You may now send in an entry.

All you need to do is send your entry to UniversalOm432Hz@gmail.com with these following rules.

The subject line of your email should be: "Entry | (Title of your post) | Dinar Chronicles"

- Proper grammar
- No foul language (not strictly followed)
- No bashing of others
- Solely write intel, rumors, news, thoughts regarding Dinarland, Iraq, the RV, the GCR and anything that is relating
- Your signature/name/username at the end (If you wish to remain anonymous then you don't need to provide one.)

If you have any questions or wish to communicate with me then please give me an email at UniversalOm432Hz@gmail.com

Send your entry and speak out today!

Follow Dinar Chronicles by Email

Featured Post

RV Intel/Thoughts/News - All Posts for December 9, 2016

Below is a list of all of the content posted for Friday, December 9, 2016. This will be useful for those of you who may have missed somethin...

Tuesday, November 1, 2016

Zimbabwe Bond Notes Law Promulgated

HEADS UP... ITS REALLY HERE...


Bond notes law promulgated


November 1, 2016 | The Herald | Source




President Mugabe

Daniel Nemukuyu Senior Reporter—
President Mugabe has gazetted Statutory Instrument 133 of 2016, which provides a legal framework for the introduction of bond notes as acceptable legal tender in Zimbabwe. SI 133 of 2016, Presidential Powers (Temporary Measures) Amendment of the Reserve Bank of Zimbabwe Act, empowers the central bank to issue out bond notes using its preferred design, form and material.

Section 44B of the amendment reads:
“The Minister may by notice in a Statutory Instrument prescribe that a tender of payment of bond notes and coins issued by the Bank that are exchangeable at par value with any specified currency other than Zimbabwean currency prescribed as legal tender for the purposes of section 44A, shall be legal tender in all transactions in Zimbabwe to the same extent as that prescribed currency.”

In terms of the statutory instrument, RBZ will determine how the bond notes and coins will look like.

“There hereby issued by the Minister in terms of section 44B (1) of the principal Act as inserted by these regulations bond notes in such units as shall be specified by the Bank and whose design, form and material shall be determined by the Bank and notified to the public.”

The Statutory Instrument, for the avoidance of doubt, also covers bond coins that are already in circulation.

READ FULL STATEMENT HERE

“The issuance of the bond notes referred to in the following subsections; and the bond coins in circulation before the promulgation of these regulations, shall be deemed to have been prescribed by the Minister in terms of Section 44A (1) of the principal Act as inserted by these regulations.”

Finance and Economic Development Minister Patrick Chinamasa said SI 133 of 2016 gave the RBZ power to introduce bond notes and coins with a 1:1 rate against the United States dollar.

He said creditors were compelled to accept payment in bond notes. “If one owes you money in United States dollars, you must accept payment in bond notes. You cannot refuse. “One would have discharged his or her obligation to you,” he said.

In a statement issued yesterday evening, Minister Chinamasa said RBZ would now go ahead to introduce the bond notes without any hindrances.

“The Reserve Bank of Zimbabwe will with immediate effect start the process towards issuance of bond notes as a legal tender in Zimbabwe. The process will commence with media publicity to inform and raise awareness of the public on the denominations, design, form, material and security features which are used in the bond notes to be introduced.

“This is to ensure that the public is not duped by fake bond notes that may be circulated into the market by unscrupulous elements in our society,” reads the statement. Minister Chinamasa said the President Mugabe promulgated the law as critical economic recovery measure.

“Given the criticality of the issuance of bond notes as legal tender to the recovery of our economy and also the controversy that has surrounded the subject matter, it has been decided that the legality of bond notes as legal tender in Zimbabwe should be put beyond any measure of doubt. It is to this effect that the President has today gazetted Statutory Instrument 133 of 2016, Presidential Powers (Temporary Measures) (Amendment of Reserve Bank of Zimbabwe Act and Issue of Bond Notes) Regulations, 2016. The measures that have been gazetted under Presidential Powers Regulations will fortify and underpin the existing legal framework for the issuance of bond notes,” he said.

When the Reserve Bank of Zimbabwe is satisfied that the public is sufficiently conversant with the salient features of the bond notes, it will proceed to issue them in line with the Export Incentive Scheme.

The central bank, Minister Chinamasa said, had recommended the Export Incentive Scheme in terms of Section 49 of the Reserve Bank of Zimbabwe Act (Chapter 22:15) to boost the country’s reserves through increased export earnings.

He said the Export Incentive Scheme would therefore remedy the decline of reserves, which had a negative impact on the country’s ability to make prompt settlements of its international obligations.

Minister Chinamasa said under existing legislation the Reserve Bank of Zimbabwe had power to issue bond notes in terms of the provisions of Section 7 of the Reserve Bank of Zimbabwe Act Chapter (22:15).

The bond notes, which are guaranteed by a $200 million African Export Import Bank (Afrexim) loan facility, will be at par with the US dollar. Bond notes will be first introduced in $2 and $5 denominations before gradually rolling out the $10 and $20 notes. The first phase of the bond notes introduction will see $75 million being released by end of December this year.

Disclamer:

We are in compliance with, "Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use."

All rights reserved go to their respective holders. We do not own the intellectual property shown on this website, the respective holders own that privilege unless stated otherwise.

We do not endorse any opinions expressed on the Dinar Chronicles website. We do not support, represent or guarantee the completeness, truthfulness, accuracy, or reliability of any content or communications posted on Dinar Chronicles.

Dinar Chronicles is not a registered investment adviser, broker dealer, banker or currency dealer and as such, no information on the website should be construed as investment advice. We do not intend to and are not providing financial, legal, tax, political or any other advice to any reader of the website. This website is...Read More