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Microfinance Act [Chapter 24:29], No. 3 of 2013

Pays/Territoire
Zimbabwe
Type du document
Législation
Date
2013
Source
FAO, FAOLEX
Titre complet
AN ACT To provide for the registration, supervision and regulation of persons conducting microfinance business in Zimbabwe; to amend the Moneylending and Rates of Interest Act [Chapter 14:14] and the Banking Act [Chapter 24:20] (Act No. 9 of 1999); and to provide for matters connected with or incidental to the foregoing.
Sujet
Agriculture et développement rural, Général
Mot clé
Coopérative/organisation de producteurs Commerce/industrie/sociétés Développement agricole Mesures financières agricoles
Aire géographique
Afrique, Afrique Orientale, Nations en développement sans littoral
Résumé

The Act is meant to apply to all credit-only microfinance business and all deposit-taking microfinance business conducted by any entity otherwise than for the sole or exclusive benefit of the members of that entity; or any subsidiary of a banking institution, building society and the People’s Own Savings Bank; or all moneylending business not carried on as part of the business carried on by a banking institution, a building society or the People’s Own Savings Bank. Exceptionally, the Act does not apply to microfinance business conducted by a body corporate established by any enactment; or a co-operative society registered in terms of the Co-operative Societies Act or the Companies Act. The Reserve Bank of Zimbabwe shall appoint one of its employees to be the Registrar of Microfinanciers and shall assign a number of its employees to assist the Registrar. The Registrar functions to ensure that any policy directives under the Act are reduced in writing and filed in the office, with access to the public, unless the Reserve Bank determines that such communications is confidential. The Registrar is in charge of registering the microfinanciers. Among other things, the Act prohibits the carrying on of microfinance activities without adequate registration. The Act goes further to extensively provide for the procedure for registration as a microfinancier. The Act provides for the conduct of microfinanciers for instance, they are to display conspicuously at the entrance of the place of business an authenticated copy of their registration certificate, loan agreements shall be in writing, microfinanciers shall comply with the code of conduct, etc.

Texte intégral
Anglais

Références - Législation

Amendé par

Microfinance Amendment Act, No. 6 of 2019

Législation | Zimbabwe | 2019

Mot clé: Développement agricole, Mesures financières agricoles, Coopérative/organisation de producteurs, Commerce/industrie/sociétés

Source: FAO, FAOLEX