Regulatory Alerts2008-05-06
Added · Updated
Bank of Zambia Circular 05/2008: Security Screening of Foreign Directors and Employees
The Bank of Zambia mandates that all commercial banks and financial service providers must obtain Interpol clearance certificates from the home countries of any foreign nationals proposed for director or employee positions. Foreign nationals residing in Zambia for over six months must additionally secure clearance from the Zambia Police Service, with standardized screening fees now set at K50,000 for local foreign and domestic applicants and K477,400 for Zambians abroad. These updated security screening protocols take immediate effect and formally repeal the previous CB Circular No. 6/2006.
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