Regulatory Alerts2020-01-01
Bank of Zambia Credit Information and Reporting Agencies Directive 2020
The Bank of Zambia issued this directive to mandate all financial service providers to submit credit information for data subjects and utilize credit reporting agencies when assessing credit applications exceeding ZMW 500. Non-compliance triggers administrative penalties of up to two hundred thousand fee units alongside other supervisory actions. This directive formally replaces the 2008 Credit Data and Reference Services Directive, establishing updated operational standards for Zambia's financial sector.
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