Africa Business Radio

Reserve Bank Of Zimbabwe has banned bulk airtime sales, ordering telecommunications service providers to stagger the reduction of physical airtime sales to 10% in a bid to contain illicit foreign currency dealings.The Financial Intelligence Unit director-general, Oliver Chiperesa ordered the companies to control the production and sale of airtime.The FIU says bulk airtime recharge vouchers are being abused by airtime dealers to facilitate illegal foreign currency trading and money laundering.The unit says airtime dealers have been purchasing airtime vouchers in bulk from mobile telecommunication service providers using local currency and then disposing of the same at discounted foreign currency prices.