Katondo forex raid pointless

Katondo forex raid pointless

GOVERNMENT should consider formalizing the informal trading forex instead of clamping down on foreign exchange traders in Katondo Street because such an action would only achieve the creation of anxiety in the economy, Dr Lubinda Haabazoka has said.

Dr Haabazoka says illegal forex traders have been fought by successful Governments but had not succeeded and that the best the new dawn government could do was to formalize the trade instead of killing the small businesses.

Dr Haabazoka said the Bank of Zambia (BoZ) had passed two regulations forbidding people from trading in forex and that if an individual had foreign currency such as the dollar or rand, they would only have to trade through banks.

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