Regulatory Alerts2023-01-01
Bank of Zambia Circular 08/2023 on RTGS and ISO 20022 Message Standard Preparedness Before Go-Live
The Bank of Zambia mandates all commercial banks to execute targeted preparedness activities ahead of the upgraded Real Time Gross Settlement (RTGS) system go-live. Institutions must assign dedicated User Acceptance Testing resources, submit daily test results, attend weekly and monthly coordination meetings, and validate missing work process flows by May 12, 2023. These requirements ensure seamless ISO 20022 message connectivity and timely sign-off of finalised test scripts prior to community testing.
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