Bankers face up to 10 years in jail if they fail to repay depositors, are found to be reckless or grossly negligent with depositors’ money. This follows the approval of the Banking Amendment Bill by Parliament which seeks to deter bank officials from being reckless with depositors’ money. Both the National Assembly and Senate passed the Banking Amendment Bill in December last year. The Bill now awaits President Mugabe’ signature for it to become law.
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