Report of the Smith Commission of Inquiry into the Conversion of Insurance and Pensions Values from Zimbabwe dollar to US dollar - Finance Minister's speech to National Assembly

The Commission was appointed by former President Mugabe.  Its terms of reference of the Commission mandated the Commission to investigate the following issues among others:

·       To establish the total value, nature and type of assets owned by insurance companies and pension funds;

·       To determine the causes of loss of value of insurance and pension benefits;

·       To assess the conversion methods and processes of insurance and pension assets and liabilities to Unites States dollars;

·       To establish the extend of prejudice if any to policy holders and pensioners;

·       To recommend compensation where prejudice has been established and;

·       To examine instances of regulatory failures and finally;

·       To assess the soundness of the industry and the role of the insurance and pension sector in the economy.

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