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South African Reserve Bank
 
 
     
 
 

Co-operative Banks  

Co-operative Banks are member owned banks based on the 7 co-operative principles:
 
1-     Voluntary and open membership
2-     Democratic member control
3-     Members’ economic participation
4-     Autonomy and independence
5-     Education, information and training
6-     Co-operation between co-operatives
7-     Concern for community
 
The first co-operative bank in South Africa was registered in 2011. The SARB is responsible for the supervision of all registered co-operative banks, whilst the Co-operative Bank Development Agency (CBDA) is responsible for the supervision of Co-operative Financial Institutions and development and training needs of the sector.
 
 
     
 
 
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