Regulatory Alerts2021-01-01
Amendments to the Zambia Interbank Payment and Settlement System Operational Rules
The Bank of Zambia issued Circular No. 05/2021 to amend the ZIPSS Operational Rules, mandating enhanced cyber security resilience for all payment service providers. Commercial banks must comply with the revised framework within thirty calendar days, subject to penalties under Section 43 of the National Systems Act for non-compliance. The updated rules, attached as Appendix I, formalize mandatory security measures to mitigate emerging cyber risks while preserving system stability.
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