Regulatory Alerts2024-01-01
Implementation of Extended Operating Hours for ZIPSS and CSD
The Bank of Zambia has extended the operating hours for the Zambia Interbank Payment and Settlement System (ZIPSS) and Central Securities Depository (CSD) to support a 24/7 digital economy and cross-border payments. A six-month pilot running from October 1, 2024, to March 31, 2025, will establish weekday operations from 07:00 to 19:30 and Saturday hours from 10:00 to 14:30. Commercial banks and participants must ensure their core banking systems, customer platforms, and human resources remain available during these hours while maintaining straight-through processing and managing associated risks.
Share