Regulatory Alerts2025-01-01
Revision of Operating Rules for the Zambia Interbank Payment and Settlement
The Bank of Zambia has revised its ZIPSS operating rules to formally incorporate extended operating hours for the payment and settlement system, effective April 1, 2025. The updated regulations amend the Daily Operating Timetable to establish new Monday-to-Friday and Saturday cut-off times for customer payments, interbank transfers, and end-of-day processing, while simultaneously deleting decommissioned Swift BIC codes for Banc ABC and Atlas Mara. These amended rules take effect immediately, requiring participants to adjust transaction scheduling, maintain sufficient settlement account balances for automatic liquidity facility repayments at final cut-off, and comply with the revised time-based pricing structure.
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