Bank of Zambia Circular 9/2015 on Electronic Money Issuance Directives

[Stamp: BANK OF ZAMBIA
DIRECTOR - NON-BANK FINANCIAL
INSTITUTIONS SUPERVISION DEPARTMENT
10 JUL 2015
RECEIVED
P.O. BOX 30080, LUSAKA.]

[Logo: Bank of Zambia]

Bank of Zambia
OFFICE OF THE DEPUTY GOVERNOR - OPERATIONS

BOZ/EXE/DGO/bcps/bp

July 10, 2015

CB Circular No.: 09/2015

To: All Heads of Commercial Banks
All Heads of Non-Bank Electronic Money Issuers

THE NATIONAL PAYMENT SYSTEMS DIRECTIVES ON ELECTRONIC MONEY ISSUANCE

The Bank of Zambia is mandated under the National Payment Systems Act Number 1 of 2007 to designate, supervise and regulate the payment systems and businesses in Zambia. The Bank has in the recent past authorised a number of institutions to issue electronic money (e-money) in Zambia.

In order to provide guidance and reinforce its oversight to all e-money issuers, the Bank has therefore developed and issued the directives in accordance with Section 43 of the National Payment Systems Act Number 1 of 2007. These directives may be cited as National Payment Systems Directives on Electronic Money Issuance are contained in Government Gazette No. 6404, Vol. LI, No 46 issued on 26 June 2015.

All electronic money issuers are therefore required to comply with the directives.

The directives take effect immediately.

[Signature]
Bwalya K. E. Ng’andu (Dr)
DEPUTY GOVERNOR – OPERATIONS

Cc
Governor
Deputy Governor – Administration
Senior Director – Supervisory Policy
Director – Bank Supervision
Director – Non-Banks Financial Institutions Acting Director – Banking, Currency & Payment Systems

Bank Square, Cairo Road P.O. Box 30080, Lusaka, Zambia Tel: 260-211-226844, 228888 Fax:260-211-237070 E-mail:dgo@boz.zm Web: http://www.boz.zm