Banking systems restored, RBZ reassures public on...

Banking systems restored, RBZ reassures public on stability

ZimNow Business Desk

The Reserve Bank of Zimbabwe has announced that the technical challenge that disrupted banking services on Monday has been fully resolved, with systems now back online.

https://zimbabwenow.co.zw/articles/17053/banking-services-delayed-as-rbz-systems-crash

In its statement, the central bank reassured the nation that depositors’ funds were never at risk and that its systems are secure.

“The Reserve Bank and all financial institutions maintain robust disaster recovery frameworks, which ensure necessary backup and business continuity in the event of any technical challenges,” the notice read.

But the outage, though brief, caused real inconvenience across the economy as businesses and individuals had to deal with disruptions in processes like interbank transfers and point-of-sale transactions.

The heaviest strain was felt on the Zimbabwe Stock Exchange, which reported delays in settling trades on both its own bourse and the Victoria Falls Stock Exchange as a result of the system glitches.

https://zimbabwenow.co.zw/articles/17057/zse-confirms-delay-in-settlement-of-trades

Lessons from the Region

Despite the disruption, the speed of recovery demonstrates that Zimbabwe’s banking sector has the capacity to bounce back. In neighboring South Africa and Botswana, central banks routinely run stress tests and publish results as part of confidence-building. The RBZ could adopt similar transparency to show not just that problems are fixed, but that resilience is continually tested.