Airlines Accepting United States Dollars Only Following 2019 Monetary Policy

In a circular dated March 20, 2019, the International Air Transport Association (IATA) directed local travel agents that all remittances of amounts due to them will only be accepted in United States dollars.

IATA said it can no longer accept the use of direct debit as a remittance method in the market. IATA represents interests of the world’s airlines. The circular by IATA reads:

Pursuant of the monetary policy statement announced by the central bank, with effect from February 20, 2019, and the resulting banking infrastructure and the operating environment alignment charges in Zimbabwe, please be advised that effective immediately IATA can only accept remittances of amounts due in the billing currency of the BSP in Zimbabwe, the United states dollars (USD). We also regret to inform you that we can no longer support the use of direct debits as a remittance method in the market effectively today, the service has been suspended and will be unavailable until further notice. All IATA payments shall be in United States dollar and should be remitted via bank transfer or cash.

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