Zimbabwe: Banking Act

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.