The Minister of Finance has released the draft Co-operative Banks Bill for public
The Co-operative Banks Bill aims to:
- formalise the co-operative banks industry by creating a legal framework for the regulation and supervision of their banking activities. This will afford depositors with Co-operative Banks the same level of safety and protection as enjoyed bydepositors with formal commercial banks; and
- provide for the support and development of the Co-operative Banks industry to ensure the sustainability and the growth of the sector and compliance with the provisions of this Bill.