Zimbabwe: Banking Act

An Act regulating the formation and functioning of banking institutions in Zimbabwe
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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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