9 PART II BANK USE PROMOTION AND SUPPRESSION OF MONEY LAUNDERING UNIT 3 Establishment of Bank Use Promotion and Suppression of Money Laundering Unit (1) There is hereby established an unit of the Reserve Bank, to be known as the Bank Use Promotion and Suppression of Money Laundering Unit. (2) The staff of the Unit shall consist of the officers, inspectors or employees of the Reserve Bank referred to in section 46 of the Banking Act [Chapter 24:20]. (3) There shall be a Director of the Unit who shall be appointed by the Governor of the Reserve Bank. (4) The Director may. with the approval of the Governor of the Reserve Bank, delegate to any person referred to in subsection (2) any functions conferred upon him or her by this Act, other than such power of delegation. 4 Functions of the Unit Subject to this Act, the functions of the Unit shall be— (a) to promote the use by the public of financial institutions for the purpose of mediating, facilitating or obviating cash transactions; and (b) to receive reports of suspicious transactions issued by designated institutions or employees thereof in terms of section twenty-six or twenty-eight; and (c) to consider the reports referred to in paragraph (b), and if there are any reasonable grounds to suspect that the transactions are suspicious, transmit the reports to the appropriate law enforcement authorities; and (d) to compile statistics and records and gather and disseminate information within Zimbabwe or elsewhere on matters relating to its functions referred to in paragraphs (a) and (b); and (e) to issue guidelines or directions to financial institutions on matters relating to its functions referred to in paragraphs (a) and (b); and (f) to monitor and enforce compliance with this Act by traders, parastatals, designated institutions and other persons; and (g) to create training facilities and provide training to designated institutions on matters relating to its functions referred to in paragraphs (a) and (b); and (h) to perform such other function as may be assigned to it by or under this Act or as the Governor of the Reserve Bank may assign to it by direction in writing. 5 Inspectorate of the Unit (1) The following persons shall be inspectors of the Unit for the purposes of this Act— (a) such officers, inspectors or employees of the Reserve Bank referred to in section 46 of the Banking Act [Chapter 24:20] as are nominated by the Governor of the Reserve Bank; and (b) every inspector working for the department of the Ministry of Finance and Economic