Regulatory Alerts2024-01-01
Prudential Standard No. 1-2024/BSD: Risk Management
The Reserve Bank of Zimbabwe issued Prudential Standard No. 1-2024/BSD to establish minimum risk management standards for all licensed banking and non-bank financial institutions. The standard mandates comprehensive governance structures, requiring boards and senior management to implement enterprise-wide risk frameworks, define clear risk appetites, and maintain robust oversight over credit, liquidity, operational, climate, and strategic risks. By aligning domestic practices with international best practices, the revised framework ensures proportional, institution-specific risk architectures that safeguard financial soundness and overall sector stability.
Share