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Draft Co-operative Banks Bill

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Draft Co-operative Banks Bill

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The Minister of Finance has released the draft Co-operative Banks Bill for public
comment.

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.

 

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