Consumer Protection; Efficient and Effective Bank Regulation in Zimbabwe
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Date
2018
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
University of the Western Cape
Abstract
Zimbabwe is a Southern African country which has witnessed frequent bank collapses in the last
two decades. This has eroded consumer and business confidence in the banking sector due to
the irreparable financial prejudice suffered by most sectoral consumers. The side effect of this
lack of trust in the sector has been the hoarding and preference of cash in most, if not all
transactions, as opposed to the use of plastic money. Between April 2015 and March 2016, it is
estimated that between US$3 billion and US$7.4 billion was circulating outside the banking
system in the informal sector thus exposing the depth of mistrust crippling the banking sector.
Together with other factors beyond the scope of this study, it is submitted that this lack of trust
and confidence in the sector has contributed to the current cash shortage which, according to
Latham and Cohen, has left .a black hole in the financial system that's crushing the rest of the
economy'.
Description
Magister Legum - LLM (Public Law and Jurisprudence)
Keywords
Zimbabwe, Silo, Financial consumer, Consumer protection, Consumer confidence, Bank regulation, Prudential regulation, Market conduct regulation, Deposit protection, Bank failure, Enforcement of laws