Circular NPS/02/2021 Issuance of the Cybersecurity Framework April 2021

CIRCULAR NO. NPS/02 /2021

RESERVE BANK OF ZIMBABWE

FINANCIAL MARKETS, NATIONAL PAYMENT SYSTEMS

Issuance of the Cyber Security Framework to payment services providers and participant banks in terms of National Payment Systems Act [24:23].

Financial technologies have witnessed tremendous developments in the last few years. As a result, new initiatives have largely displaced traditional ways of banking, payment systems and overall financial services landscape.

It is however, interesting to note that the positive developments continue to attract attention resulting in advent of novel types of cybersecurity threats. Such criminal conduct which cuts across jurisdictions calls for the need for regulators and all stakeholders to stay a step ahead and proactively formulate safety measures to ensure financial system stability and integrity.

To this end, the Reserve Bank of Zimbabwe as the designated authority seeks to enhance and ensure a stable, integrated and efficient financial system by issuing a Cyber Security Framework under Circular No. NPS/02/2021 and shall come into operation with immediate effect.

The Framework will be reviewed on an ongoing basis to take on board continuous market developments and stakeholder views to ensure robustness and efficacy of digital financial services.

Please continue to be guided accordingly.

Signed by ........................................ Date 27 April, 2021

Josephat Mutepfa (Mr.)

Deputy Director, Financial Markets, National Payment Systems