Bank of Zambia to revamp ‘outdated’ supervisory framework
IMF praises the central bank’s efforts to inspect banking sector
The Bank of Zambia is in the process of revamping its supervisory framework after it was found to be “outdated” by the International Monetary Fund.
In the fund’s latest assessment of the central African country, IMF staff say supervision was “not fully effective” due to an ageing legal framework and lack of resources.
The Bank of Zambia is now “taking steps to strengthen supervision capacity and the crisis preparedness framework”, fund staff say.
The central bank has pledged to conduct onsite
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