Regulatory Alerts2021-01-01
Bank of Zambia Guidelines for Conducting Regulatory Sandbox, 2021
The Bank of Zambia issued these 2021 guidelines to establish a regulatory framework enabling financial institutions and fintech applicants to test innovative payment and financial products in a controlled environment. Applicants must demonstrate that their offerings are ready for live testing, deliver genuine consumer benefits, outline comprehensive risk safeguards and exit strategies, and submit a detailed test plan subject to a 30-day regulatory review. Authorized participants may engage in the sandbox for up to one year, extendable to two years, while retaining full liability for customer risks, complying with mandatory reporting, and adhering to strict operational and anti-money laundering standards.
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