royal bank

In a heated session of Parliament, legislators proposed a series of measures to protect bank depositors and punish financial institutions responsible for past bank failures. The motion, introduced by Murehwa West Member of Parliament Farai…
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HARARE - Royal Bank Zimbabwe Limited directors could face prosecution after the defunct institution’s creditors on Wednesday approved a plan to institute legal proceedings against the ex-board for abusing depositors’ funds.
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Zimbabwe's judicial system is currently overwhelmed by banking sector lawsuits pitting financial institutions and clients who may easily settle matters amicably before approaching the courts, Master of High Court Eldard Mutasa has said.
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HARARE - Businessman Zachary Wazara’s companies – Spiritage Zimbabwe Limited (Spiritage) and Suremed Medical (Suremed) – are claiming nearly $400 000 from collapsed Royal Bank Limited (Royal).
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Zimbabwe has increased minimum capital requirements for banks to as much as $100 million, a move which could hold back a drive to force foreign banks to sell majority shares to locals while forcing small, locally owned ones to merge.
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