Fri, 02 Dec 2016 08:50:45 +0000 ZAMBIA’s banking sector remains stable despite the takeover of Intermarket Banking Corporation, says the Central Bank. And Finance Minister Felix Mutati has assured the nation that the banking sector is stable and Zambians should not panic over rumours that some banks were about to close and that depositors risked losing their money. Bank of Zambia deputy governor for operations and registrar of banks, Bwalya Ng’andu, reiterated the Central Bank’s commitment to the mandate of maintaining stability in the financial sector. “The Bank of Zambia wishes to inform the general public, the banking community and all other interested parties that, currently, the financial position of the banking sector remains stable,” Dr Ng’andu said in a statement issued by BoZ yesterday. Dr Ng’andu also dissociated the BoZ from speculations that it was considering closing or taking possession of other banks. He explained that the decision to take possession of Intermarket […]
