Join experts from Standard Chartered Bank as we deep dive into the global insights and financial analysis that matter to help you make better financial decisions. RM RA78DK – 20 Zambian kwacha. SIMILAR CONTENT. . New Year's Day. The credit released today is part of the World Bank’s $275 million concessional development policy financing (DPF) for Zambia. 2 Total. [This is the version of this document from 29 July 2022. Domestic Debt Markets and the Sovereign-Bank Nexus _____23 2. BANK SORT CODES Bank Area Branch Bank Of Zambia 00. It is typically referred to being in South-Central Africa or Southern Africa. 2 International poverty rate ($2. FNB has confirmed the appointment to the Zambian Business Times – ZBT on May 12, 2020 that this appointment also marks another milestone in the 11-year history of the bank to have a Zambian citizen as an incoming CEO. Data in doing business 2020 are current as of May 1, 2019. Latest research from the World Bank on development in Zambia, including reports, studies, publications, working papers and articles. 24 billion of IDA and IBRD support, of which the largest amount—18 percent—was to the agriculture sector. 9 point. 1413: 23. Holy Saturday. Subsequently, Currency division is responsible for the designing and ordering of banknotes and coins to meet the country' s demand. The Strategy is designed to assist Zambia sustain economic growth while diversifying the economy and strengthening country competitiveness. Branch name. FREQUENTLY ASKED QUESTIONS. The dominance of the four largest banks in deposits and total assets has been diluted by. 76853 ZMW. 50 ZMW 2. 6 percent in 2023, assuming a timely agreement with official creditors on an appropriate debt treatment, it is projected to accelerate over the medium term. Latest News. XE’s free live currency conversion chart for Zambian Kwacha to US Dollar allows you to pair exchange rate history for up to 10 years. 0000431462 USD. 3600: 23. Ownership structure and degree of bank competitionZambian President Edgar Lungu on Saturday summarily dismissed central bank governor Denny Kalyalya and replaced him with former deputy finance minister Christopher Mphanza Mvunga, a statement from. With more people choosing electronic ways to send money to Zambia online over conventional cash-based ones, Zambia's digital payments landscape is expanding quickly. Prior to this, Barclays Bank Zambia used to have Telephone Banking which could be accessed from a landline. Bank code A-Z 4 letters representing the bank. A series of meetings was held in Lusaka between the World Bank team and the Ministry staff, resulting in the outline of a strategy and next steps. BOZ. About Absa Bank Zambia PLC. human capital development, which in turn creates a drag on the economy. How to open a Company Bank account In Zambia. Rajan Mahtani is suing Atlas Mara for damages over a deal eight years ago involving the sale of Finance Bank of Zambia, which Mahtani set up in 1986 and agreed. Zambia’s central bank was established in 1964, taking over the functions of the Bank of Northern Rhodesia. Zambia National Building Society | 9,594 followers on LinkedIn. This is in line with the Bank of Zambia’s (BoZ) target of 6. Create an account with your email address. Zambia’s finance minister has criticised prolonged discussions over the country’s debt restructuring, which have included a Chinese call for multilateral lenders such as the World Bank to be. Zambia National Commercial Bank Plc (ZANACO. Zambian President Hakainde Hichilema has brought inflation down from 24. Address: Central Park Prestige Banking Farmers House, Lusaka, Zambia, Zambia. The Zambian kwacha (ZMK) is the official legal tender and national currency of the Republic of Zambia, issued by the country's central bank, the Bank of Zambia. A car loan can help you realize your dream of a new vehicle. A series of meetings was held in Lusaka between the World Bank team and the Ministry staff, resulting in the outline of a strategy and next steps. FINANCIAL AND OTHER STATISTICS 1 Table 1: Selected Macroeconomic Indicators, 2011 - 2020 *The GDP numbers for 2020 are prelimimnary Source: Bank of Zambia, Zambia Statistics Agency and Ministry of FinanceWhen applying for a Schengen medical visa from Zambia, you must also prepare the following documents: Medical certificate and a copy. Best Banks In Zambia. Regular interest payments. 2 of 2016. 0 GDP, current US$ billion 29. +260 21 127 8892. Bank code A-Z 4 letters representing the bank. 8 Lower middle-income poverty rate ($3. 1% to K196bn. 4. As at 31 December 2021 , Bank X accounted for 13% and Bank Y accounted for 17%, of the Zambian banking sector's total assets and deposits, respectively. May 18, 2022. Gender Equality | Zambia Lift 300+ Zambian Women Out Of Extreme Poverty. com is the world’s trusted currency authority. June 22, 2021. The company specialises in mortgage loans to construct homes and its sole focus is on helping its customers build their home. and Others (2000) ZR 27 (SC). For project-related issues and complaints. In our commitment to help Zambia grow, Zanaco is proud to be the largest employer in the Zambian banking sector. Answers to your questions about sending money from the United States to Zambia with Remitly. Customer choice. Zambia’s overall annual inflation is projected to decline to 19. Stylized facts of the Zambian banking sector After more than two decades of financial repression, financial liberalisation offered an opportunity for a revival of the Zambian banking industry. Ruth Kumbi vs Robinson Caleb Zulu, S. You won’t receive this rate when sending money. 25 ZMW 19. Private Sector Specialist), Isabella Hayward (DigitalLupiya, a trailblazing neo-bank in Zambia, has achieved a significant milestone by securing $8. customerservice. Supporting You , Developing Zambia | Indo Zambia Bank was formed on 19th October, 1984 by the Government of the Republic of Zambia and the. +260 (211) 366100 (available Monday to Friday from 08:00-16:45) Chat to Abby on WhatsApp: +260 (762) 969 977. 3100: 23. INDO Zambia Bank Limited Appeal No. At Fitch Solutions, we have revised down our 2023 real GDP growth forecast for Zambia from 3. 00 NIL NIL K100. Date Day Holiday; 1 Jan: Mon: New Year's Day: 8 Mar: Fri: International Women's Day: 12 Mar: Tue: Youth Day: 29 Mar: Fri:The last auction of the Bank of Zambia on 23 March, 2023, performed badly. Registering made easy. A wideThe Bank of Zambia is the Central Bank of Zambia. 0 Upper middle-income poverty rate ($6. Detailed information about SWIFT code INZAZMLX. 15)a 60. Zambia’s economic challenges have affected banking and non-banking financial institutions (NBFIs) to varying degrees. A beacon of excellence and partner of choice in development financing | About DBZ The Development Bank of Zambia (DBZ) was established in 1972 pursuant to section 3 of the DBZ Act Chapter 363 of the Laws of Zambia as a joint venture between the Government, Public Sector Financial. Short title. The report also discusses the debt treatment agreement reached by Zambia with its official creditors and the policy challenges and recommendations for. Location. Bank X and Bank Y are two of the top 5 banks operating in Zambia. 25. 2 million (about US$1. Balance of Payments Statistics. The banks major shareholders are Industrial Development Corporation (IDC), National Pensions Authority (NAPSA), Madison Financial Service Plc and Workers Compensation Fund Control Board. 00 12 Investrust Bank Plc K35. Commercial. The Bank of Zambia in their 2022 Examination Report of the Bank directed that K693. 2856. LUSAKA. Abstract and Figures. 4. Brett was in his early thirties, married in Cape Town after quitting his cushy job at JP Morgan in London, while Brad, several years older, was married in Zambia and looking to get off the corporate ladder. The Effect of Capital Structure Management on Commercial Bank Financial Performance: A Case of the Zambian Banking Sector June 2020 DOI: 10. March 24, 2023. Enter the transfer amount in the selected currency - for example, 2000 GBP. 3900: 23. Receive instant transaction confirmation via SMSAbstract. The banking sector has an important role to play in Zambia’s economy. This is a list of commercial banks in Zambia 1. Balance of Payments Statistics. Its not easy to tell the best bank in Zambia. 77 billion in loans had been disbursed to Zambia and its state-owned enterprises by 18 major and minor Chinese banks or funds from 2000 to August 2021. Francis. 841726516 ZAR. Zambian definition: . 0. Zambia Lifts Key Interest Rate to 9. Through the years, the Zambian kwacha suffered high rates of inflation and forced the Bank of Zambia to establish high-value denominations in 2003, which includes 20,000 and 50,000 kwacha bills to help facilitate transactions. Members of the World Bank Group Board of Directors* completed a three-day visit to the Republic of Zambia, where they experienced firsthand some of the work being implemented with World Bank support. Researchers have discovered remnants of what is thought to be the world’s oldest known wooden structure, an arrangement of logs on the bank of a river. 0 Gini indexa 55. Zanaco account. The advent of Digital Financial Services (DFS) has seen the introduction of electronic means of payment and savings mostly via mobile phone. 7962. 2410. This study evaluates the degree of competition in the Zambian banking sector in the wake of dynamic market shifts induced by entry of new foreign banks and privatisation of the state-owned bank. Location code 0-9 A-Z 2 characters made. Chipimo recently explained that part of the big investment in. ZNBS is wholly owned by the Zambian Government and is the largest building Society in Zambia. In this regard, the Bank has proposed that 19 projects should be written-off. Zambia’s strategy aims to see 70 percent of adults using formal financial services by 2022. Loans and mortgages. 25 USD 583. The tightening of monetary conditions in February by the Bank of Zambia was an appropriate policy response. AB BANK ZAMBIA LIMITED AB BANK PO. With the aid of Arise B. 500 USD is equal to 11644 ZMW. Northern Rhodesia became a British sphere of influence in the present-day region of Zambia in 1888, and was officially proclaimed a British protectorate in 1924. zambiaalert@worldbank. Kenya's shilling is expected to extend its gradual march lower as foreign-currency demand ramps up from all sectors before the end of the year. The restructured bank opened for business on 23 October 2018, in Lusaka, Zambia's capital city, with new shareholders and under new management, in a ceremony presided over by the then Minister of Finance, Margaret Mwanakatwe. In 1992, a new, smaller coinage was introduced consisting of nickel-plated-steel 25 and 50 ngwee and brass 1, 5 and 10 kwacha. 00 K25. This table contains a national calendar of all 2023 public holidays in Zambia. m K40. 5 stanbic bank zambia ltd sbiczmlx 6 standard chartered bank zambia plc scblzmlx 7 indo zambia bank ltd inzazmlx 8 finance bank zambia ltd zfbazmlu 9 cavmont capital bank ltd cvmtzmlu 10 internarket banking corporation (z) ltd idhzzmlu 11 investrust bank plc vstrzmlu 12 bank of china (z) ltd bkchzmlu 13 banc abc zambia ltd fmbzzmlx 14 first. org. The mobile money revolution in Zambia by Mwatula Chiti. LUSAKA: ABBAZMLU: 2: ABSA BANK ZAMBIA PLC: KITWE: KITWE PROCESSING CENTRE: BARCZMLXKPC: 3: ABSA BANK ZAMBIA PLCZAMBIA Table 1 2022 Population, million 20. 00 13 Investrust Bank Plc K30. and can be found on the World Bank’s Zambia web-site. The Bank of Zambia has now raised its key rate four times this year to curb inflation, which climbed to 12. Currently, Zambia is one of the first 17 African countries to implement the Digital Economy for Africa (DE4A) Initiative, in which the World Bank has committed to investing $25 billion in Africa’s digital transformation. Registered office: Absa House, Stand No. 2. ZMW ZAR. Share Facebook Twitter LinkedIn WhatsApp London — Nigeria’s naira, Kenya’s shilling and Zambia’s kwacha are expected to be under pressure in the next. The bank opened its door to the public on 1st August 2018 and. The Bank has an objective to ensure that. Chungu, Chanda (2020) "Richard Musenyesa v. If You wish To open a Bank account for your Company in Zambia, you must provide these documents. 7962. The current World Bank portfolio in Zambia is comprised of 17 national projects and 4 regional projects with a total commitment of $2. $1. You will be required to take a selfie, capture your NRC (National Registration Card), upload your TPIN Certificate and utility bill or proof of residence. The Zambia Industrial Commercial Bank Limited (ZICB) is a wholly owned Zambian bank. XE. - The indo-zambia bank corporate banking app allows you to perform all your banking tasks from the palm of your hands, from. The Bank of Zambia (BoZ) has said that the Gross International Reserves rose to 1. Indo Net Banking. 7% to K5. 25. Its key role is to gain and maintain public confidence in the currency. 77 billion in loans had been disbursed to Zambia and its state-owned enterprises by 18 major and minor Chinese banks or funds from 2000 to August 2021. Payment Systems Statistics. RM EXKXPE – Detail from a Zambian 50 Kwacha banknote (2009) showing an eagle watermark. Follow US. 18. 7 Life expectancy at birth, yearsb 61. A World Bank (2017) study shows that Zambia’s poor WSS service is partly responsible for the high levels of childhood stunting (40 percent) in the country, which represents a staggering loss of human potential in Zambia. Secure. The partnership will ensure that identity verification – and the benefits it provides – is accessible to all. Kitwe 26 02 12. To achieve and maintain price and financial. The period of analysis was chosen based on data availability and its sufficiency to provide reliable results based on quantitative and statistical. 5% with effect from. Accurate, up-to-date public holidays, bank holidays, and observances in Zambia for 2023 ready to be integrated into your application. Completely editable Zambian Absa bank statement 3 – 6 months example of high quality, which is a proof of the available balance from the bank. Get the latest 1 South African Rand to Zambian Kwacha rate for FREE with the original Universal Currency Converter. ] [Act No. Zambia became Africa's first pandemic-era sovereign default nearly two years ago and is seeking $8. Design/methodology/approach – Competition is measured using the Panzar‐Rosse H ‐statistic and the Lerner index from. Postal Address First National Bank Zambia Limited PO Box 36187 Lusaka, Zambia. 100 USD 2,335. With over 7 million people who get the real exchange rate with TransferWise and its fully accepeted in Zambia. 189 of 2016. The Bank of Zambia said. US banks generally add a 3% to 6% markup onto exchange. 1:44. 5 ZMW 3. Geographical and historical treatment of Zambia, a landlocked country in south-central Africa. the banking industry in Zambia. lusaka: abbazmlu: 2: absa bank zambia plc: kitwe: kitwe processing centre: barczmlxkpc: 3: absa bank zambia plc Zambia last week opted to bow out of a $42. BOX 35273, LUSAKA […] Tuesday's study estimated that $7. Set rate alerts for ZAR to ZMW and learn more about South African Rand and Zambian Kwacha from XE - the Currency Authority. 04:13 PM. , a leading African Investment Company, Zanaco benefits from. Zambia is a developing country, and it achieved middle-income status in 2011. However, the big challenge remains with ensuring a shift to fiscal sustainability. . The consequences of these failures led to China canceling US$158 million in Zambian debt in 2006, eventually resulting in a US$392 million write-off. ZMW to USD currency chart. 99 of 2013. The authorities’ program, supported by the ECF-arrangement, will advance the authorities’ homegrown reform plan to restore. Cholera outbreaks are also a common occurrence. The Currency Structure of 1973-1974quantifying the MTM in Zambia using bank level data. Ecobank has had a presence in Zambia since August 2009 and currently operates. Fax. 5 USD 115. Security Needed. 34 in thousands of US$ The Effectively Applied Tariff Weighted Average (customs duty) for Zambia is 4. A new, redenominated kwacha was introduced in. Available in USD, GBP, EUR and ZMW. Inflation Will Stabalise Over 2023 Zambia - Consumer Price Inflation, % y-o-y (2019-2023) Source: Zambia Statistics Agency, Fitch Solutions. Nov. Download IZB Corporate Banking and enjoy it on your iPhone, iPad and iPod touch. Interpretation. By Amb. ZM BANK OF CHINA LU BANK OF CHINA LUSAKA B5 ZAMBIA LOCAL BANKS 190001 No No. Supporting You. 1413: 23. 12 Indo-Zambia Bank Limited K100 p. 5 USD 116. Copies of this report are available to the public from Further, the Banking and Financial Services Act No. Societe Generale SA is exploring a sale of its German consumer finance business as part of Chief Executive Officer Slawomir Krupa ’s plans to boost the French. First Alliance Bank Zambia Limited. Despite the disruption caused by the pandemic plus a fragile global economy, Zambia’s banking sector reported strong performance in 2022. It usually looks like a shortened version of that bank's name. The certificate must be in English or in one of the corresponding. Indo Zambia Bank was formed on 19th October, 1984 by the Government of the Republic of Zambia and the Government of India out of the desire to promote banking facilities to support the economic development of Zambia. 00 K110. Payments coming 28 years after liquidation! THE Bank of Zambia (BoZ) on behalf of Meridien BIAO Bank in liquidation has announced the payment of dividends to all depositors, creditors and other claimants effective June 1, 2023. Rates change according to market price. 042898 USD. The Banking and Financial Services Act under Section 8 stipulates what. Since the launch of telephone banking in late 2008, Zanaco has opened approximately 50,000 mobile banking accounts. A new, redenominated kwacha was introduced in. Good Friday. Steps on how to change your alert settings. 00 NIL NIL 15 Standard Chartered Bank Zambia PlcOn a monthly basis, consumer prices increased by 0. from 18th to 23rd September, 2023. 5 ZMW 0. Last modified on Thu 21 Sep 2023 07. 7 percent of GDP in 2020 to. Free shipping on many items | Browse your favorite brands | affordable prices. 7 percent. 10 ZMW 7. Mobile money. 50 USD 1,167. 3 billion) 38-month ECF arrangement for Zambia to help restore macroeconomic stability and foster higher, more resilient, and more inclusive growth. Get the best deals on 1992 Banknote Zambian Paper Money when you shop the largest online selection at eBay. Therefore you can only use other services to withdraw money in. V. Meridien BIAO was the result of a 1991 merger between the Meridien. Overall, it improves economic and GDP growth. EcoBank Zambia's personal loans are all-purpose loans, offering flexible repayment plans and the option to access additional funds after a period of time. Valid email - You need to have a valid e-mail address with an Internet Service Provider. List of Sort Codes For Zambian Banks companies and services in Zambia. This fundraising endeavour was spearheaded by the Alitheia IDF Fund, a private equity fund known for its gender-focused investments, and saw substantial contributions from INOKS Capital SA and the. You are here. id bank city branch swift code; 1: ab bank zambia ltd. 3744. Holidays today, tomorrow, and upcoming holidays in Zambia, including types like federal, national, statutory, and public holidays. Levels of formal financial inclusion gradually increased from 23 percent of Zambian adults in 2009, to 38 percent in 2015. The Bank’s 2011-2015 Country Strategy for Zambia spanned through two ADF cycles – ADF-12 and 13. 72%. Between 2002 and 2008 the value of Zambia’s mineral exports grew 500%, from $670m to $4bn, but. Pearson, Jr. 2. 2 billion of which is owned. 15. The Zambia National Commercial Bank, sometimes referred to as “Zanaco,” is a monetary organization that is active in the commercial banking sector inside the borders of the nation of Zambia. A bond recovery value of $65 to $75, with an exit yield of 11-12% was "realistic"," he said. Access Bank Zambia Limited 3. Access Zambia’s economy facts, statistics, project information, development research. 19443 ZMW. P. 2 workshop the World Bank was requested to work with the Ministry to draft a strategy for improving the corporate governance of state-owned enterprises in Zambia. Three main themes have emerged in our 2022 survey: An increased level of convergence over the. 00%. chambuba@worldbank. Management can be efficient in one bank, at the some time quick in another. 5. ZAR. Zambia - Colonial Rule, Independence, Economy: At first the BSAC administered its territory north of the Zambezi in two parts, North-Eastern and North-Western Rhodesia. Bank of the year for Financial Inclusion in Zambia. “We are confident that his leadership capabilities, coupled with his astute and prudent financial management expertise, will. In Zambia, the bank currently controls 13 branches. Studies on banking competition in developing countries, and especially in Africa, are sparse. 5835: 23. According to the national wealth accounts prepared by the World Bank, natural resources make up 40% of the country’s wealth and are a cornerstone for its economic growth and strategies for poverty reduction. About us. 683453032 ZAR. This economy profile presents indicators for Zambia for. OwnershipThe startup last year raised US$15 million in growth capital to fuel its expansion across Africa, and it has now partnered leading bank Zanaco to launch operations in Zambia. LUSAKA, Nov 22 (Reuters) - Zambia's central bank raised its benchmark lending rate (ZMCBIR=ECI) by 100 basis points to 11. 15) the number of beneficiaries of the social cash transferFurther, the Banking and Financial Services Act No. FIRNZMLXXXX. 936690606 ZAR. 1. Date. At the time, 30 percent of Zambia’s total loans were owed to China, but these were mostly concessional loans, channeled through policy banks like the China Exim Bank. Zambia’s central bank said it refused to pay ransom to a group known as Hive that was behind a cybersecurity breach that caused minimal damage to its. +260 21 127 8443. Stanbic Bank Zambia has launched the first-ever digital loan platform which enables its customers to access online personal loans for those with existing approved facilities, scoring a first on the Zambian market. 54 of 2008. 1. 6 billion owed to China’s EXIM Bank, and at least 18 entities responsible for credit lines to Zambia. Issuer: Zambia Debt Level: senior unsecured Issue: ZMW 149 mln 13% Gov Bonds 29 Aug 2024. Ecobank Zambia | 8,766 followers on LinkedIn. Zambia Banking. Christmas Day. Let's Start. The predominant financing modalities are. Get the latest 1 Zambian Kwacha to US Dollar rate for FREE with the original Universal Currency Converter. 7) Finance Bank Zambia Limited Pic v Lamasat International Zambia Limited SCZ Appeal No. This 2013 study, published by the Chief Economist Complex of the African Development Bank, evaluates the degree of competition in the Zambian banking sector in the wake of dynamic market shifts induced by financial reforms, entry of new foreign. Moreover, less than 8% of Zambia’s adult population had a bank account in 2005. Similar. Developing Zambia. A World Bank (2017) study shows that Zambia’s poor WSS service is partly responsible for the high levels of childhood stunting (40 percent) in the country, which represents a staggering loss of human potential in Zambia. The Zambian pounds remained in circulation beside the kwacha until 1974. OVERVIEW. 6853 ZMW. Indo Zambia Bank was formed on 19th October, 1984 by the Government of the Republic of Zambia and the Government of India out of the desire to promote banking facilities to support the economic development of Zambia. Indo Zambia Bank | 10,308 followers on LinkedIn. Get the latest United States Dollar to Zambian Kwacha (USD / ZMW) real-time quote, historical performance, charts, and other financial information to help you make more. These dates may be modified as official changes are announced, so please check back regularly for updates. Currently Zambia’s international 10 year bond yields have a rate of 29%, meaning an investment of $1000 would result in payments totaling $3900. Mainly known as UBA Zambia, United Bank of Africa Zambia is a subsidiary Bank of the United Bank for Africa that is headquartered in Nigeria. 50 and 100 Kwacha 2009 / 2010, showing fish eagle. Land (Customary Tenure) (Conversion) Regulations, Statutory InstrumentFeatures. Zambia - Foreign Exchange Controls. Sort Codes 14 th January 2011-01-14 Page 1 of 8 SCHEDULE II - BANK BRANCH AREA SORT CODES BANK SORT CODES Bank Area Branch Bank Of Zambia 00 Lusaka 00 00 01 Ndola 00 01 02 Bank Area Branch Zambia National Commercial Plc 01 Head Office 01 00 01 International Banking 01 00 02 Lusaka Business Centre 01 00 03 Kawambwa 01 21 04 Petauke 01 43 05. BOX 38173, LUSAKA +260-211-220835/36/38/40 LUSAKA 2. zm) listed on the Lusaka Securities Exchange under the Banking sector has released its 2023 interim results for. 1600 ZMW. 0. zm. Zambia's annual inflation rate dropped to a near 3-1/2-year low of 9. INDO-ZAMBIA. In a major development, the World Bank has appointed a Zambian National, Dr. 2. Bank of Zambia has the sole right to issue bank notes and coins in the country. British International Investment partners with Access Bank Plc to extend US$60 million trade finance facility across five African countries Regulators Approve Merger Between Access Bank Zambia Limited and African Corporation Zambia Limited Access Bank Zambia Limited hands over Adopted BO3 University Teaching Hospital Maternity Ward. The review team also included members of staff of the Private Sector Development Reform Programme and the Zambia Business Forum. There have been forced bank mergers in the last two years. ii. Indo-Zambia Bank is a significant employer in the communities that it serves and is an active participant in Corporate Social Responsibility activities in Zambia. Includes how foreign exchange is managed and implications for U. Property must be on title. Development Bank of Zambia and Mary Ncube (Receiver) vs Christopher Mwansa and 63 Others, SCZ/ 08/103/ 08-J2-7. The bank operates in 20 African countries. There is also a minimum investment of K1000 locally. 2,523 views. Select receipt currency - the recipient can receive money in Zambia in ZMW, USD, EUR. You can view detailed balances, transfer funds between accounts, buy forex, activate, cancel or order FNB cards, and so much more, 24/7. Hence, the main purpose of this study is to critically evaluate the law as relating to the banking sector in Zambia.