Regulatory Alerts2025-01-01
Bank of Zambia Circular No. 03/2025 on Draft Deposit Protection Directives
The Bank of Zambia has issued Draft Banking and Financial Services (Deposit Protection) Directives, 2025 to operationalize a Deposit Protection Fund that safeguards depositor funds and ensures financial system stability. All commercial banks and deposit-taking non-bank financial institutions must review the proposed directives using the provided template and submit their feedback by January 22, 2025. The directives establish comprehensive rules governing fund membership, premium calculations, coverage limits, reimbursement procedures, and regulatory oversight to guarantee immediate access to insured deposits upon institutional failure.
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