BANK OF ZAMBIA

OFFICE OF THE DEPUTY GOVERNOR - OPERATIONS

February 27, 2012

CB Circular No: 03/2012

To: All Commercial Banks
Non-Banks Financial Institutions

ENHANCED SECURITY MEASURES AT BUSINESS PREMISES

The Bank of Zambia (BoZ) is concerned about the increased number of armed robberies on Financial Service Providers (FSP’s) particularly Commercial banks and bureaux de change. These robberies have led to loss of both human life and huge sums of cash and pose a great risk to investor’s and public confidence in the financial sector.

In light of these developments, the BoZ is urging all FSP’s to take the following measures by 31 May 2012:

1. Install intruder detection systems in all buildings, especially areas where cash safes and ATMs are located;
2. Link up intruder detection systems with security firms for rapid response;
3. Re-enforce walls and roof ceilings especially in cash safes and ATM areas;
4. Consider Installing closed circuit television (CCTV) surveillance cameras in sensitive areas;
5. Review building structures and consider renovations to improve on the security features;
6. Conduct security vetting exercise for all employees by appropriate security agencies;
7. Engage only reputable security firms to man business premises;
8. Improve security lighting around business offices;
9. Take out appropriate insurance policies to foster continuity of business and minimise losses and/or disruptions in the event of thefts; and
10. Sensitize all members of staff on the robbery incidents.

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CB Circular No: 03/2012 - 2 - February 27, 2012

The BoZ will conduct on-site inspections to check on compliance.

Bwalya K. E. Ng’andu (Dr.)
DEPUTY GOVERNOR – OPERATIONS AND
REGISTRAR OF BANKS AND FINANCIAL INSTITUTIONS

Cc Governor
Deputy Registrar of Banks and Financial Institutions

Bank Square, Cairo Road P.O. Box 30080, Lusaka, Zambia Tel: 260-211-226844, 228888/9 Fax: 260-211-237070 E-mail: bngandu@boz.zm http://www.boz.zm