Regulatory Alerts2025-01-01
Bank of Zambia Deposit Insurance Scheme Implementation
The Bank of Zambia has issued Circular No. 24/2025 to operationalize its Deposit Insurance Scheme, requiring all commercial banks and non-bank deposit-taking institutions to contribute to a financial safety net. Member institutions must pay a one-off initial premium of 0.05 percent of total assets by January 31, 2026, followed by an annual premium of 0.3 percent calculated on a twelve-month average of deposits. The scheme establishes a K250,000 coverage limit per depositor per institution and targets a fund size equal to 3.0 percent of total industry deposits, with the central bank retaining authority to revise these parameters.
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