Regulatory Alerts2016-01-01
Bank of Zambia Corporate Governance Directives, 2016
The Bank of Zambia mandates corporate governance standards for all licensed banks and financial institutions to ensure institutional safety and systemic financial stability. The directives require rigorous board appointment procedures, a majority of independent non-executive directors, and the establishment of specialized audit, risk, loans, and remuneration committees. Directors must exercise strict duties of care and loyalty, define institutional risk appetite, manage conflicts of interest, and maintain transparent stakeholder communication to protect depositor interests.
Share