RegAlertEnforcement · BOZ · 5 Apr 2024
Bank of Zambia Circular 09/2024: Suspension of Investrust Bank from ZIPSS
The Bank of Zambia has suspended Investrust Bank PLC from the Zambia Interbank Payment and Settlement System (ZIPSS) following its regulatory possession on April 2, 2024. Consequently, payment instruments drawn on or in favor of Investrust will no longer be processed through the platform, and participants must cease accepting them. Financial and payment system providers are directed to implement this suspension immediately and sensitize their customers accordingly.
[LOGO]
BANK OF ZAMBIA
OFFICE OF THE DEPUTY GOVERNOR - OPERATIONS
BOZ/EXEC/DGO/psd/bp
April 5, 2024
CB Circular No. : 09/2024
To : All Heads of Financial Service Providers All Heads of Payment System Providers Chief Executive Officer – Bankers Association of Zambia Chief Executive Officer – Zambia Electronic Clearing House Limited
ZAMBIA INTERBANK PAYMENT AND SETTLEMENT SYSTEM – INVESTRUST BANK PLC
Following the Bank of Zambia taking possession of Investrust Bank PLC (Investrust) on April 2, 2024 (CB Circular No. 08 of 2024 – Bank of Zambia Possession of Investrust Bank PLC), please be advised that Investrust has been suspended from participating on the Zambia Interbank Payment and Settlement System (ZIPSS). In this regard, payment instruments for Investrust Bank shall not be processed through this platform.
Participants should, therefore, not accept payment instruments drawn on or in favour of Investrust. Participants should further sensitise their customers accordingly.
Kindly proceed accordingly.
[Signature]
Francis Chipimo (PhD)
DEPUTY GOVERNOR – OPERATIONS
cc Governor
Deputy Governor – Administration
Deputy Registrar of Financial Service Providers General Counsel and Bank Secretary Director – Financial Markets Director – Prudential Supervision Director – Banking and Currency Director – Financial Conduct Supervision Director – Information and Communication Technology Chief Executive Officer – Payments Association of Zambia
Bank Square, Cairo Road, P.O. Box 30080, Lusaka, Zambia Tel.+260-211-399303, 399300, E-mail: dgo@boz.zm, Web: http://www.boz.zm
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