The Government has set new rules on bank ownership, triggered by instances of malpractice in the financial sector in the past few years. In the new rules to be included in the amendments to the banking laws, individuals and companies would be allowed to hold shareholding of up to 5 percent and 25 percent respectively, down from 25 percent and 40 percent.
Zimbabwe: Govt Sets New Bank Rules
The Herald (Harare), 25 December 2012
The Government has set new rules on bank ownership, triggered by instances of malpractice in the financial sector in the past few years. In the new rules to be included in the amendments to the banking laws, individuals and companies would be allowed to hold shareholding of up to 5 percent and 25 percent respectively, down from 25 percent and 40 percent.
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