Zimbabwe: Banking Act
An Act regulating the formation and functioning of banking institutions in Zimbabwe
This directive is the Banking Act of Zimbabwe. The decree initiates with interpretation and application of the Act. It lists in details the provisions for:
- Administration, registration and conducting of business by banking institutions;
- Financial requirements and restrictions applicable on certain transactions by banking institutions.
Further, the Law elaborates the provisions for:
- Maintaining accounts, statements and other records;
- Appointment and duties of audit committees, auditors and audit;
- Supervision and investigation of banking institutions;
- Curatorship and winding up of banking institutions.
The Law concludes by listing:
- Additional powers of the Reserve Bank and Registrar with respect to banking institutions;
- General provisions.
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