The objectives of the Association are:
- To provide a forum for the consideration of matters of policy and mutual interest concerning member banks
- To act as a medium for communicating with the Zimbabwe Government, Reserve Bank of Zimbabwe, The Securities Commission, the Committee of the Zimbabwe Stock Exchange, other public bodies and Associations, the press, the general public, in conveying to them the views of member banks on matters affecting the activities of the banks; and
- Interacting with other reputable financial organisations, regional and international Banking Associations, Regional and International Financial Institutions to draw on best practices, financial resources any other support they can lend to local institutions to advance the banking industry.
- To deal with, advance and promote all matters of common interest to member banks and to foster healthy sustainable co-operation amongst them.
The Functions of the Association
The Bankers Association of Zimbabwe’s main mandate is to support the banking business of the member banks. It conducts research and planning concerning banking-related matters, expresses the industry’s opinion on various issues and provides policy recommendations through activities such as the following:
- Expressing opinions on financial system reforms and other banking-related matters.
- Researching banking-related matters and providing policy recommendations
- Promoting financial literacy education by providing various programs and materials
- Establishing the Code of Conduct for the banking industry
- Drafting compliance guidelines for banks
- Drafting guidelines and universal formats for banking businesses
- Finding ways of satisfying sectorial demands for finance in the country
- Establishing a network of Correspondent Banking relationships with offshore banks for the banking industry
- Promoting financial Inclusion by bringing the unbanked segments of the population into the ambit of banking.