Regulatory Alerts2016-01-01
Deferment of Full Compliance Date for Bank of Zambia Corporate Governance Directives
The Bank of Zambia has extended the full compliance deadline for its Corporate Governance Directives across all commercial banks and financial institutions. This blanket deferment applies to every directive provision, allowing stakeholders sufficient time to conduct a comprehensive operational review. Financial institution heads must now adjust their implementation schedules accordingly to maintain regulatory alignment.
[Logo: Bank of Zambia]
Bank of Zambia OFFICE OF THE DEPUTY GOVERNOR - OPERATIONS
BOZ/EXEC/DGO/banksup/bp
November 1, 2016
CB Circular No. : 08/2016
To : All Heads of Commercial Banks and Financial Institutions
DEFERMENT OF THE DATE FOR FULL COMPLIANCE OF THE BANK OF ZAMBIA CORPORATE GOVERNANCE DIRECTIVES
Reference is made to the Bank of Zambia Circular CB No. 07/2016 dated October 28, 2016 on the above.
In order to allow for a comprehensive review of all aspects of the Corporate Governance Directives by all stakeholders, the deferment of full compliance shall apply to all provisions.
Kindly be advised accordingly.
[Signature]
Bwalya K. E. Ng’andu (Dr) DEPUTY GOVERNOR – OPERATIONS
Cc Governor Deputy Governor – Administration Senior Director – Supervisory Policy Director – Bank Supervision Director – Non Banks Financial Institutions Supervision Director – Legal Services
Bank Square, Cairo Road P.O. Box 30080, Lusaka, Zambia Tel: 260-211-226844, 228888 Fax: 260-211-237070 E-mail:dgo@boz.zm Web: http://www.boz.zm