Regulatory Alerts2015-01-01
Bank of Zambia Circular 17/2015 on the ZAMCRA Stakeholders Workshop
The Bank of Zambia issued Circular 17/2015 to encourage commercial bank chief executives to send representatives to the Zambia Credit Reporting Association workshop on 15 October 2015. The directive notes that ZAMCRA, established in 2013 to promote credit data sharing and risk management, has experienced limited operational activity due to insufficient stakeholder support. Attending the half-day event at Taj Pamodzi Hotel will enable financial institutions to align with proposed initiatives and strengthen the national credit information sharing framework.
Bank of Zambia Office of Senior Director – Supervisory Policy
Direct Line: +260-1-235700 Fax: +260-1-237070
5th October 2015
CB Circular No: 17/2015
To: Chief Executive Officers
Barclays Bank Zambia Plc Zambia National Commercial Bank Plc Standard Chartered Bank Zambia Plc Stanbic Bank Zambia Limited Investrust Bank Limited Intermarket Banking Corporation Indo-Zambia Bank Limited Finance Bank Zambia Plc First Alliance Bank Zambia Limited Cavmont Bank Limited Citibank Zambia Limited Bank ABC Access Bank Zambia Limited First National Bank Zambia Limited Eco Bank Zambia Limited United Bank for Africa Zambia Limited First Capital Bank Zambia Limited AB Bank Zambia Limited
ZAMBIA CREDIT REPORTING ASSOCIATION STAKEHOLDERS WORKSHOP
The Zambia Credit Reporting Association (ZAMCRA), an alliance established primarily to promote credit data sharing among credit provides, will be holding a half-day stakeholders’ workshop on 15 October 2015 at Taj Pamodzi Hotel from 09:00 hours to 13:00 hours.
As you may be aware, the BoZ officiated at the launch of ZAMCRA in 2013 noting that it provides a platform for the development of an effective credit information sharing framework through advocacy, developing standards, creating awareness and enhancing risk management for the growth of a quality credit market. However, there has been little activity since the launch which may be partly due to inadequate support from relevant stakeholders.
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Bank Square, Cairo Road, P. O. Box 30080, Lusaka, Zambia Tel: +260-211-228901/5/228888 Fax: +260-211-221746 Email: pr@boz.zm. Web: http://www.boz.zm
CB Circular No: 17/2005 5th October 2015
In this regard, we would like to encourage you to send representatives to the ZAMCRA workshop in order to keep abreast with the association’s proposed initiatives as well as foster an improvement in ZAMCRA’s efforts to develop an effective credit information sharing framework.
(Signature)
CHISHA MWANAKATWE SENIOR DIRECTOR – SUPERVISORY POLICY
c.c. Deputy Governor - Operations