Regulatory Alerts2020-01-01
Testing of the SADC Transactions Cleared on Immediate Basis Clearing and Settlement Models
The Bank of Zambia requires all commercial banks to actively participate in testing the SADC Transactions Cleared on Immediate Basis (TCIB) payment scheme. Appointed Regional Clearing and Settlement Operator BankServAfrica will clear these low-value transactions for settlement across regional central banks' real-time gross settlement systems. The Bank of Zambia will ensure successful processing on the Zambia Interbank Payment and Settlement System (ZIPSS) while coordinating directly with participating institutions through the SADC Bankers Association.
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