Regulatory Alerts2024-01-01
Bank of Zambia Takes Possession of Investrust Bank PLC
The Bank of Zambia has taken possession of Investrust Bank PLC effective April 2, 2024, pursuant to Section 64 of the Banking and Financial Services Act, 2017. During this possession period, Investrust will cease participating in the Zambia Electronic Clearing House Limited, meaning no financial instruments drawn on or in favor of Investrust will be cleared through the system. This regulatory intervention aims to safeguard financial stability and public interest while the central bank prepares a formal statement of affairs and executes further statutory measures.
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