Bank of Zambia

Bank of Zambia (1) There is established the Bank of Zambia which shall be the central bank of the Republic. (2) The functions of the Bank of Zambia are to— (a) issue the currency of the Republic; (b) determine monetary policy; and (c) regulate banking and financial services, banks, financial and non-banking institutions, as prescribed. (3) There is constituted a Board of Directors for the Bank of Zambia whose composition shall be prescribed. (4) The functions of the Bank of Zambia vest in the Board of Directors and shall be performed as prescribed. (5) The Bank of Zambia shall not be subject to the direction or control of a person or an authority in the performance of its functions. [Article 213 added by section 8 of Act 2 of 2016]