Cyber Security

108. The value of transactions going through RTGS rose by 217% from ZW$1.6 trillion in 2020 to ZW$4.9 trillion in 2021. Volumes recorded a growth of 16% from 10.8 million to 12.4 million during the period under review.

Mobile Banking

109. The Bank is satisfied with developments on mobile money interoperability, which witnessed a steady upward trend in the figures, with average monthly growth of 21% and 16% in volumes and values.

110. The Bank remains committed to continuous public education and awareness on the use of interoperable digital payments in its endeavour to promote financial inclusion and a cash-lite society.

Cyber Security

111. With increased digital transactions in the country, the Bank sustained heightened attention to the threat of cyber-attacks on payment systems. The

Bank continued to emphasise the need for financial institutions to implement effective risk management measures to mitigate cyber risk in line with the

Risk-Based Cyber Security Framework.

112. The Bank further insured that financial institutions complied with the

SWIFT Customer Security Controls Framework for Cybersecurity management with emphasis on mandatory and advisory security controls.

113. To further enhance and safeguard the card system from cyber -attacks, banks are required to ensure that their cards are Euro Mastercard and Visa compliant. In this regard, the Bank encourages financial services providers to phase out non-EMV complaint cards.