Banks Requirements
Licensing requirements and application procedures for commercial banks and building societies in Zambia.
Licensing Requirements
- Minimum paid-up capital of ZMW 520 million for commercial banks
- Minimum paid-up capital of ZMW 260 million for building societies
- Fit and proper assessment of directors and senior management
- Detailed business plan covering at least 3 years
- Audited financial statements of shareholders
- Anti-money laundering and compliance framework
- Risk management policies and procedures
- Information technology and security systems
Application Documents
Banking and Financial Services Act Application Form
Fit and Proper Declaration Form
Anti-Money Laundering Questionnaire
Business Plan Template
Capital Requirements Guidelines
Application Process
1
Pre-Application
Initial consultation with BoZ Banking Supervision Department
2
Application Submission
Submit complete application with all required documents
3
Assessment
BoZ reviews application and conducts due diligence
4
Decision
Licensing decision communicated within 90 days
Important Notice
All applications must be submitted to the Director - Banking Supervision Department. Incomplete applications will not be processed. For any queries, please contact the Banking Supervision Department at +260 211 399 300 or email bsd@boz.zm