LAWMAKERS have demanded the amendment of the Deposit Protection Act (DPA), including ensuring that former managers of failed banks away are kept away from financial institutions to protect depositors and investors, amid indications of plummeting confidence in the banking system. NATHAN GUMA This follows revelations that little has been done to redress challenges brought by…
The Depositors Protection Act should be amended to provide for executives and directors of failed banks to be barred from opening new ones and running for public office, according to the country’s legislators. Debating a motion raised by Murehwa West Member of Parliament Farai Jere in the National Assembly on proposed amendments to the Depositors…
HARARE - A motion that was tabled in Parliament which seeks to amend the Deposit Protection Act (DPA) in order to strengthen protections for ordinary savers in the event of bank closures or liquidations has received tremendous support from legislators.