Bank of Zambia Takes Possession of Investrust Bank PLC

[Logo: Bank of Zambia]

BANK OF ZAMBIA
OFFICE OF THE DEPUTY GOVERNOR - OPERATIONS

BOZ/EXEC/DGO/prsd/bp

April 2, 2024

CB Circular No. : 08/2024

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

BANK OF ZAMBIA POSSESSION OF INVESTRUST BANK PLC

Reference is made to the above matter.

Please be advised that the Bank of Zambia has taken possession of Investrust Bank PLC (Investrust) effective April 2, 2024, in accordance with Section 64 of the Banking and Financial Services Act, 2017. The possession has been necessitated to safeguard financial stability and the interest of the public. During the possession period, the Bank of Zambia shall prepare a statement of affairs of the bank and take any other action in accordance with the law.

In the meantime, Investrust will no longer participate in the activities of the Zambia Electronic Clearing House Limited (ZECHL). In this regard, no financial instruments drawn on or in favour of Investrust shall be presented for clearing at ZECHL.

Kindly be advised accordingly.

[Signature]

Francis Chipimo (PhD)
DEPUTY GOVERNOR – OPERATIONS AND REGISTRAR OF FINANCIAL SERVICE PROVIDERS

cc Governor
Deputy Governor – Administration
Deputy Registrar of Financial Service Providers Director – Financial Markets Director – Prudential Supervision Director – Financial Conduct Supervision Director – Payment Systems Director – Banking and Currency General Counsel and Bank Secretary

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