Financial Surveillance Division
Financial Surveillance Division
The Financial Surveillance Division is responsible for monitoring trade and investment transactions and ensuring full compliance with foreign exchange rules and regulations by Authorised Dealers (ADs), Authorised Dealers with Limited Authority (ADLAs), Capital Flows Administration and Management Division (CFAAM), and all users and generators of foreign currency.
Functional Areas
The Financial Surveillance Division operates through two core functional areas that ensure compliance with foreign exchange regulations and enforcement of prudential standards.
Compliance Monitoring & Enforcement
Focuses on onsite and offsite inspections of users and generators of foreign exchange, as well as the licensing and supervision of Authorised Dealers (ADs) and Authorised Dealers with Limited Authority (ADLAs).
Investigations & Financial Integrity
Enforces prudential and AML/CFT/PF compliance requirements, investigates violations of trade and investment regulations, and strengthens financial integrity within the market.
Vision & Mission
Vision
“To safeguard financial integrity through proactive compliance monitoring, investigations, analysis of foreign exchange transactions and enforcement of Exchange Control regulations to achieve market discipline.”
Mission Statement
“To proactively monitor the Zimbabwean cross-border foreign exchange market, investigate exchange control violations, and ensure timely enforcement of regulatory exchange control requirements to foster market discipline and total compliance.”
Key Strategic Focus Areas
The Financial Surveillance Division focuses on strengthening compliance, market discipline, and financial integrity through the following strategic focus areas:
Foreign Exchange Administration
Administration of foreign exchange rules and regulations to ensure cross-border transactions align with international best practices and national regulatory aspirations.
Transaction Monitoring
Monitoring cross-border transactions to improve stakeholder compliance, strengthen market discipline, and curb illicit capital flows.
Market Reporting
Monitoring and reporting foreign exchange transactions conducted by Authorised Dealers and ADLAs on a daily, monthly, and quarterly basis.
AML/CFT Compliance
Monitoring compliance with exchange control regulations and Anti-Money Laundering and Counter Financing of Terrorism guidelines.
Investigations
Conducting investigations into violations and non-compliance with foreign exchange regulations and investment guidelines.
Legal & Regulatory Support
Providing legal and regulatory guidance to internal and external stakeholders on matters relating to foreign exchange regulations.
Compliance Enforcement
Strengthening compliance and enforcement measures to combat illicit financial flows, tax evasion, and foreign currency leakages.
Stakeholder Coordination
Coordinating and strengthening cooperation between the Reserve Bank, FIU, ZIMRA, law enforcement agencies, and other stakeholders.
Licensing & Supervision
Licensing and supervising Authorised Dealers (ADs) and Authorised Dealers with Limited Authority (ADLAs).
Market Intelligence & Research
Conducting market intelligence and research on Exchange Control issues and emerging foreign exchange risks.
Divisional Motto
“Compliance and Integrity”
