A Legal Analysis of Banks Fiduciary Duties: A Case Study of Burundi

ABSTRACT This study specifically aims to critically analyze the application, practice and implementation of the law on Bank fiduciary obligation and the problems associated with it in Burundi, in order to identify possible interventions to control breach of fiduciary responsibilities in banks. Since there is a need to be critical and analytical, this study employed theoretical analysis of fiduciary duties in Burundi so as to derive conclusions and recommendations. The study findings indicated that, protection of trust, accountability and circumstances leading to breach of fiduciary were due to failure to protect a trust, misleading advice, undue influences, conflict of interest among others whereas these problems can be avoided. The study concluded that in Burundi, laws do not provide any particular protection for the weaker party especially in banking. The study recommended that laws need adjustment and a new paradigm and those banks need to respect rules and regulations to adopt good practice which should be done hand in hand with a dynamic monitoring of bank officers on procedure taken in advising on fiduciary issues.