Regulatory Alerts2024-01-01
Bank of Zambia Changes to Operational Structure (CB Circular No. 06/2024)
The Bank of Zambia has restructured its operational framework effective January 1, 2024, to strengthen monetary and supervisory functions in response to evolving economic conditions. Key changes include renaming the Bank Supervision and Non-Banks Financial Institutions Supervision Departments to Prudential Supervision and Financial Conduct Supervision, respectively, while establishing a new Financial Stability Department and a Deposit Protection Division. These adjustments expand regulatory oversight, consolidate prudential reporting via the Bank Supervision application portal, and align departmental mandates with the BOZ Act 2022 to enhance consumer protection and macro-prudential policy implementation.
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