Home
Forms Library
Banking and Financial Services Act - Bank of Zambia

Banking and Financial Services Act - Bank of Zambia 2025

Banking and Financial Services Act - Bank of Zambia Preview on Page 1

See details

4.2 out of 5

38 votes

The Banking and Financial Services Act (Chapter 387) of Zambia establishes a comprehensive regulatory framework for the licensing, operation, and supervision of banks and financial institutions. It outlines the requirements for obtaining licenses, operational conditions, governance structures, financial accountability, and procedures for insolvency and liquidation. The Act aims to protect investors and customers while ensuring the stability and integrity of the banking sector in Zambia.

Here's how it works

01. Edit your form online

Type text, add images, blackout confidential details, add comments, highlights and more.

02. Sign it in a few clicks

Draw your signature, type it, upload its image, or use your mobile device as a signature pad.

03. Share your form with others

Send it via email, link, or fax. You can also download it, export it or print it out.

How to use or fill out Banking and Financial Services Act - Bank of Zambia with our platform

Ease of Setup

DocHub User Ratings on G2

Ease of Use

DocHub User Ratings on G2

Click ‘Get Form’ to open the Banking and Financial Services Act - Bank of Zambia document in the editor.
Begin by reviewing the Preliminary section, which includes definitions and the application of the Act. Familiarize yourself with key terms such as 'bank', 'financial institution', and 'deposit'.
Proceed to the Licensing section. Fill out any required fields regarding your application for a banking license, ensuring you provide accurate details about your company, including its name, address, and proposed activities.
In the Organization and Administration section, complete information related to ownership and control. Ensure that all directors meet the qualifications outlined in this section.
Review the Operations chapter carefully. Fill in any necessary disclosures regarding interest rates, customer complaints procedures, and confidentiality agreements.
Finally, ensure that all financial accountability requirements are met by preparing annual financial statements as specified in Chapter V.

Start using our platform today to streamline your document editing and form completion process for free!

be ready to get more

Complete this form in 5 minutes or less

Get form

Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What are bank brokered deposits?

Key Takeaways. A brokered deposit is a deposit made to a bank with the assistance of a third-party deposit broker. Deposit brokers facilitate the placement of other peoples deposits with insured financial institutions, such as banks.

What is Section 29 of the FDIC Act?

Section 29 of the Federal Deposit Insurance Act restricts institutions that are less than well capitalized from accepting brokered deposits, although institutions that are adequately capitalized may request a waiver from the FDIC to accept brokered deposits.

What is Section 29 of the Banking Regulation Act?

(1) Every bank based in India, and foreign banks operating in India through branches, must prepare a financial report which includes a balance-sheet and a profit and loss statement. This report should be made at the end of each calendar year, or after a 12-month period that the Central Government decides.

What is Section 637 of the Bank Act?

637 The Governor in Council may make regulations prohibiting, limiting or restricting the disclosure by banks of prescribed supervisory information.

What is the regulation 46 of the Bank Act?

Regulation 46 of the Regulations relating to Banks (Regulations) imposes specified reporting duties on the auditors of banks, controlling companies and branches of foreign institutions (hereinafter collectively referred to as banks).

What is the maximum that a bank can lend to any executive officer excluding permissible exceptions?

Section 337.3 of the FDICs rules and regulations places a limit of $100,000 on loans that a state nonmember bank can make to its executive officers for purposes other than an education or a hone, such as commercial loans, farm loans and other types of consumer loans.

What is section 29 of the banking Act?

Section 29 of the Banking Act sets prudential limits on credit facilities granted by a bank to a single borrower or group of related borrowers, to limit the concentration risk of a bank.

What is the banking and Financial Services Act in Zambia?

An Act to provide for a licensing system for the conduct of banking or financial business and provision of financial services; to provide for the incorporation of standards, principles and concepts of corporate governance in insti- tutional systems and structures of banks and financial in- stitutions; to provide for

Banking and Financial Services Act - Bank of Zambia 2025

Here's how it works