Banking and Finance Act

The Banking and Finance Act is a legal framework that regulates the operations of banks and financial institutions. It sets out rules for how these entities should conduct their business, ensuring transparency, stability, and consumer protection. The law covers areas like licensing, financial reporting, lending practices, and risk management. Its purpose is to promote trust in the financial system, prevent fraud, and support economic growth by maintaining sound banking practices. Overall, it provides a structured legal foundation to ensure that banks function responsibly and efficiently within the economy.