Regulatory Alerts2015-01-01
Revised Corporate Governance Directives
The Bank of Zambia has issued a circular inviting comments on its draft Revised Corporate Governance Directives, which update the 2006 guidelines to incorporate recent financial system developments. The revision converts selected provisions into binding directives while retaining others as advisory guidelines. Stakeholders must submit feedback to the Bank Supervision Department by 21 April 2015 prior to final issuance.
Bank of Zambia
Office of Director - Bank Supervision Department
Tel: 260-1-228888/225656 Fax: 260-1-225656
2 April 2015
To: All Financial Service Providers
REVISED CORPORATE GOVERNANCE DIRECTIVES
Reference is made to the above subject.
The Bank of Zambia is in the process of revising the 2006 Bank of Zambia Corporate Governance Guidelines. The revision has been necessitated by the need to incorporate certain aspects arising from various developments that have taken place in the financial system since the Guidelines were first issued. The effect of the proposed revision is that some of the provisions will now be directives while others will remain as guidelines. The purpose of this Circular letter is therefore, to invite comments on the attached draft for consideration by the Bank of Zambia before the Directives are issued.
Comments may be submitted through Mr Sylvester Kabwe on the following email: skabwe@boz.zm. The deadline for submission of comments is 21st April 2015. Please do not hesitate to contact the undersigned for any clarifications.
(Signature) GLADYS CHONGO MPOSHA (MS) DIRECTOR – BANK SUPERVISION
Cc: Senior Director – Supervisory Policy Director – Legal Services Director – NBFISD Institute of Directors
Bank Square, Cairo Road P.O.Box 30080, Lusaka, Zambia Tel: 260 211 228901/5, 228888 Fax 260 211 221764 E-mail: pr@boz.zm, Web:http://www.boz.zm