CB Circular No. 25 of 2023 – Rescheduling of ZIPSS, CSD Upgrade and ISO 20022 Migration Go-Live Date

[Logo: Bank of Zambia]

Bank of Zambia OFFICE OF THE DEPUTY GOVERNOR - OPERATIONS

BOZ/EXEC/DGO/psd/bp

September 7, 2023

CB Circular No. : 25/2023

To : Accountant General – Ministry of Finance and National Planning Commissioner General – Zambia Revenue Authority Heads of Commercial Banks Chief Executive Officer – Zambia Electronic Clearing House Limited Chief Executive Officer – National Pension Scheme Authority Chief Executive Officer – Zambia National Building Society

RESCHEDULING OF ZIPSS/CSD UPGRADE AND ISO 20022 MIGRATION GO-LIVE DATE

Reference is made to CB Circular Number 08/2023 on the above subject.

The Bank of Zambia wishes to advise that the Zambia Interbank Payment and Settlement System (ZIPSS) and the Central Securities Depository (CSD) upgrade and ISO 20022 migration go-live date has been moved from September 16, 2023 to October 14, 2023, to allow for participants to complete the User Acceptance Testing.

In view of the above, participants are required to ensure that any outstanding tests are carried out successfully in readiness for go-live. Failure to do this may result in the participant being unable to process ZIPSS and/or CSD transactions once the system goes live.

Further, the Bank wishes to commend the banks that have managed to migrate to the error free testing stage and encourages them to continue undertaking the tests and other activities as scheduled by the Bank’s project team in order to ensure seamless transition to the upgraded ZIPSS and CSD.

Kindly proceed accordingly.

[Signature]

Francis Chipimo (PhD) DEPUTY GOVERNOR – OPERATIONS

cc Governor Deputy Governor – Administration

Bank Square, Cairo Road, P.O. Box 30080, Lusaka, Zambia Tel:+260-211-399303, 399300, E-mail: dgo@boz.zm. Web: http://www.boz.zm