Home Mining Reserve Bank To Finance Govt Programmes Through TBs.

Reserve Bank To Finance Govt Programmes Through TBs.

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THE Reserve Bank of Zimbabwe (RBZ) is seeking to raise $60 million to finance Government programmes through the issuance of Treasury Bills.

Treasury Bills (TBs) are negotiable instruments issued by Government through the Reserve Bank to finance the State’s short-term requirements.

In a notice yesterday, the Central Bank said it was inviting financial institutions to subscribe to Treasury Bills (TBs) amounting to $60 million.

“RBZ hereby invites financial institutions including commercial banks, building societies, People’s Own Savings Bank, asset management companies, insurance, and pension funds and other corporates to subscribe to TBs amounting to $60 million.

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“Applicants must be for a minimum amount of $1 million. The number of bids per investor is restricted to two and copies of the application forms are available from RBZ local dealers, 80 Samora Machel Avenue, Harare,” it said.

The offer for the debt instrument opened yesterday.

RBZ said the TBs, which will be allotted to successful bidders this Thursday, have special features including prescribed and liquid asset status, tax exemption and acceptability as collateral for overnight accommodation at the Central Bank.

Chronicle

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