Harare(ZimEye)-Time Bank of Zimbabwe (Time Bank) says millions of dollars worth of its assets seized in 2004 by the Central Bank have not been returned, weeks after a landmark Administrative Court judgement restored its banking licence.

The emergent banking giant was stripped of its licence five years ago in what sources claimed were Reserve Bank of Zimbabwe (RBZ) controversial governor Gideon Gono’s plans to frustrate banks in which he, Mugabe and Zanu PF had no interests.

On Monday RBZ officials appeared set to delay returning the assets. In a statement, Time Bank appealed to its customers to be patient as a date for an official return of the assets was now going to be set.

The bank said among the clients’ assets in the RBZ’s possessions were title deeds. Bank properties were also held by the regulators in a heavily-condemned swoop on allegedly erring and corrupt financial institutions. Gono, newly arrived at the RBZ said he was going to clean up what he alleged to be the mess in the banking industry but was later accused of nearly crashing it.

TIME Bank managing director Chris Tande invoked the Administrative Justice Act (AJA) and successfully applied for a restoration of the bank’s operating licence through an Administrative Court (AC). (ZimEye, Zimbabwe)

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