Committees
Learn about the various committees that support the governance of the Bank of Zambia.
Committee Structure
The Bank of Zambia operates through several committees that provide specialized oversight and decision-making in their respective areas. These committees ensure effective governance and support the Board in fulfilling its responsibilities.
Monetary Policy Committee
Responsible for formulating monetary policy decisions
Composition
Governor (Chair), Deputy Governors, Directors of Economics and Financial Markets, and external members
Meeting Schedule
Meets bi-monthly to review economic conditions and set the policy rate
Audit Committee
Oversees internal audit functions and risk management
Composition
Non-executive directors and external members with financial expertise
Meeting Schedule
Meets quarterly to review audit reports and compliance matters
Human Resources Committee
Manages staff welfare and development policies
Composition
Deputy Governor - Administration (Chair), HR Director, and Board representatives
Meeting Schedule
Meets monthly to address staff matters and policy development
IT Steering Committee
Guides technology strategy and digital transformation
Composition
Deputy Governor - Operations (Chair), IT Director, and department heads
Meeting Schedule
Meets monthly to review IT projects and cybersecurity matters
Risk Management Committee
Monitors and mitigates institutional risks
Composition
Governor (Chair), Deputy Governors, and Directors
Meeting Schedule
Meets quarterly to assess risk landscape and mitigation strategies
Investment Committee
Manages reserve investment strategies
Composition
Governor (Chair), Deputy Governor - Operations, and Financial Markets Director
Meeting Schedule
Meets monthly to review investment portfolio and strategy