News / National
RBZ to regulate AI in Zimbabwe's banks
19 Aug 2025 at 18:30hrs | Views

The Reserve Bank of Zimbabwe (RBZ) is developing specific rules to regulate the use of artificial intelligence (AI) within the country's financial institutions, signaling a major step toward modernizing the banking sector.
As AI becomes a transformative force globally, the RBZ aims to create a clear regulatory framework to ensure banks deploy AI responsibly while safeguarding financial stability and consumer protection. Currently, AI adoption in Zimbabwean banks is at an early stage, with many institutions using basic tools such as automated reporting and real-time compliance monitoring. More advanced applications, including predictive modeling for compliance and AI-driven management of non-performing loans, remain limited.
The forthcoming guidelines will set minimum standards for banks using AI, covering areas such as risk management, data privacy and security, ethical use of AI, and sound operational governance. The RBZ expects these rules to promote innovation and efficiency while mitigating risks like data misuse, algorithmic bias, and operational vulnerabilities.
This initiative forms part of the RBZ's broader fintech and digital transformation strategy aimed at strengthening Zimbabwe's financial sector. By providing a structured framework, the central bank intends to enable banks to leverage AI technologies safely, enhancing operational efficiency and customer service without compromising regulatory compliance or financial stability.
The implementation of these rules is expected to position Zimbabwe's banking industry to keep pace with global technological advancements while addressing local risks and opportunities. The RBZ is expected to finalize and communicate the guidelines to the banking sector in the near future, ushering in a new era of AI-powered banking under prudent regulatory oversight.
As AI becomes a transformative force globally, the RBZ aims to create a clear regulatory framework to ensure banks deploy AI responsibly while safeguarding financial stability and consumer protection. Currently, AI adoption in Zimbabwean banks is at an early stage, with many institutions using basic tools such as automated reporting and real-time compliance monitoring. More advanced applications, including predictive modeling for compliance and AI-driven management of non-performing loans, remain limited.
The forthcoming guidelines will set minimum standards for banks using AI, covering areas such as risk management, data privacy and security, ethical use of AI, and sound operational governance. The RBZ expects these rules to promote innovation and efficiency while mitigating risks like data misuse, algorithmic bias, and operational vulnerabilities.
This initiative forms part of the RBZ's broader fintech and digital transformation strategy aimed at strengthening Zimbabwe's financial sector. By providing a structured framework, the central bank intends to enable banks to leverage AI technologies safely, enhancing operational efficiency and customer service without compromising regulatory compliance or financial stability.
The implementation of these rules is expected to position Zimbabwe's banking industry to keep pace with global technological advancements while addressing local risks and opportunities. The RBZ is expected to finalize and communicate the guidelines to the banking sector in the near future, ushering in a new era of AI-powered banking under prudent regulatory oversight.
Source - fingaz