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Mandate

Deposit Protection Corporation Act [Chapter 24:29]

DPC’s Statutory Functions

DPC’s statutory functions in terms of section 5 of the Deposit Protection Corporation Act [Chapter 24:29] include:

Act No. 7 of 2011
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Effective 16 March 2012
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Financial Safety Net Partner

Legal Foundations

The Corporation’s enhanced statutory mandate empowers DPC to resolve failing or closed banking institutions, administer judicial management and liquidations, and protect public confidence.

View Enabling Acts & Regulations

Core Pillars of Responsibility

DPC executes its legislative mandate through four interconnected operational pillars. Click a pillar to spotlight its corresponding statutory clauses below.

Section 5(a) Section 5(b)

Fund Administration & Sustainability

Building and managing a resilient, dedicated deposit protection fund funded through risk-responsive institutional premiums.

  • To administer the Deposit Protection Fund established under the Act.
  • To levy contributions from all licensed contributory institutions across Zimbabwe.
Section 5(c)

Depositor Protection & Resolution

Providing a critical safety net that reimburses eligible depositors promptly in the event of an institution’s insolvency.

  • To pay compensation to depositors in the event of the insolvency of a contributory institution.
Section 5(d) Section 5(f)

Prudential Surveillance & Sound Banking

Proactively assessing banking risks, minimizing fund exposure, and encouraging healthy, ethical market competition.

  • To monitor the business and activities of contributory institutions to ensure minimal exposure to the Fund.
  • To ensure sound banking practices and fair competition among banks in Zimbabwe.
Section 5(e) Section 5(g) Section 5(h)

Systemic Stability & Public Education

Collaborating with fiscal and monetary authorities while equipping the public with financial knowledge and confidence.

  • To assist the Minister of Finance, Economic Development & Investment Promotion and the Reserve Bank in the formulation and implementation of fiscal and monetary policy.
  • To keep the public informed of the Corporation’s role in financial stability and the rights of depositors.
  • To exercise any other function conferred or imposed on the Corporation in terms of the Act or any other enactment.
Statutory Schedule

Section 5 Statutory Provisions

The complete statutory functions of the Deposit Protection Corporation as verbatim enacted under Section 5 of Chapter 24:29.

5(a)
To administer the Fund.
5(b)
To levy contributions from contributory institutions.
5(c)
To pay compensation to depositors in the event of the insolvency of a contributory institution.
5(d)
To monitor the business and activities of contributory institutions to ensure minimal exposure to the Fund.
5(e)
To assist the Minister of Finance, Economic Development & Investment Promotion and the Reserve Bank in the formulation and implementation of fiscal and monetary policy.
5(f)
To ensure sound banking practices and fair competition among banks in Zimbabwe.
5(g)
To keep the public informed of the Corporation’s role in contributing towards the stability of Zimbabwe’s financial system and the rights of depositors in the event of a contributory institution becoming insolvent; and
5(h)
To exercise any other function conferred or imposed on the Corporation in terms of this Act or any other enactment.

Zimbabwe’s Financial Safety Net Architecture

The Deposit Protection Corporation operates as an integral pillar of the national financial safety net, collaborating closely with key regulatory and fiscal authorities.

Ministry of Finance

Responsible for national fiscal policy, overarching financial sector legislation, and state macroeconomic stability frameworks.

Reserve Bank of Zimbabwe

Monetary authority executing prudential regulation, ongoing bank licensing and supervision, and lender-of-last-resort functions.

Deposit Protection Corporation

Dedicated statutory safety net administering the Deposit Protection Fund, compensating depositors, and resolving failed institutions.

Want to learn more about how your deposits are protected?

Explore insured institutions, cover limits, and answers to common depositor questions.

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