Regulatory Alerts1996-01-01
Classification and Provisioning of Loans Regulations
The Bank of Zambia issued the Classification and Provisioning of Loans Regulations to mandate commercial banks and financial institutions to establish formal frameworks for loan classification and provisioning. The regulations, signed into law on 30 August 1996, are scheduled to take effect on 1 January 1997 to provide institutions adequate time to draft and secure Board approval for their required loan policies and review systems. Institutions must ensure these governing documents are fully operational by the effective date to provide clear directives for all loan department personnel.
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