Regulatory Alerts2021-01-01
Bank of Zambia ZIPSS Operating Rules April 2021
The Bank of Zambia issued these revised operating rules to govern the Zambia Interbank Payment and Settlement System (ZIPSS), which functions as the nation's Real Time Gross Settlement network. The document establishes comprehensive access criteria, technical and operational standards, and security protocols that authorized participants must meet to process final and irrevocable payments. It further defines the Bank's dual role as System and Technical Operator, outlines intraday liquidity and risk management frameworks, and details participant liabilities, dispute resolution mechanisms, and insolvency procedures.
Share