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2016-2019 Strategic Plan Launched

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2016-2019 Strategic Plan Launched www.boz.zm March 2017 A BANK OF ZAMBIA JOURNAL ZAMBIA WINS CYFI COUNTRY AWARD 2016-2019 STRATEGIC PLAN LAUNCHED NATIONAL DEVELOPMENT THROUGH PRODUCTIVE DECENT WORK Kankasa Mabula joins the world Bank advisory council on Gender and development page 4 News in Brief ISLAMIC 2016-2019 Strategic Plan Launched page 5 BOZ confers with MPs page 6 Staff appointments page 7 BANKING Ng’andu urges SADC central Banks to unite page 8 By Zambanker Reporter BOZ to host the GBA - All Star Africa Academy page 9 or some time now, there has been much Stanbic Bank launches Anakazi Banking page 10 contemplation about introducing Islamic The 7 Principles of Financial Prosperity page 11 Banking in Zambia. A lot of people have Mwanakatwe inspires learners page 13 F asked “why Islamic nance in Zambia?” Not all CRB objectives met but.. page 14 The place of feedback in performance management The answer to this question lies in page 15 acknowledging that the existing information World Consumer Rights Day page 17 A delegation from the Bank of Botswana and capacity gaps with relation to Islamic Practice Financial discipline - governance implores comprising Dr M Bakwena, Board nance found in the nancial market and real employees page 18 member, Mr Andrew Motsomi, Deputy sector in Zambia impose major impediments to National Development through productive decent Governor, Ms Ewetse T Rakhudu the provision and uptake of Islamic nancial work page 19 General Manager and Mr Ralesedi Know and plan your finances to live a better life Somolekae, Director Human Resources products. page 21 visited the Bank of Zambia on a Photo Focus page 24 benchmarking exercise on Female staff tutored on managing personal finances remuneration practices. The delegation page 26 benchmarked the Bank's remuneration Personality Profile page 27 practices on pay policy, salary structure, New faces page 30 pension arrangements and the role of Separations and Obituary page 32 Government in the determination of Transient Ischemic attack - mini stroke page 33 remuneration practices. Frequently asked questions page 35 Senior management has Managers circle celebrates 10 years of team building recognised and offered two page 36 Economics Department When you know better, you do better page 37 e m p l o y e e s a Deputy Governor – Operations Dr Bwalya Ng'andu (second from Regional Office concludes construction of index of complimentary weekend right) and Assistant Director – Regulatory Policy Ms Mankolo Beyani, (second from left) with officials from the Islamic Financial2 Services industrial production page 38 p a c k a g e f o r t w o a t Rethinking Bank regulation; Bank III and its Board (IFSB) of Malaysia at the Islamic Finance and Banking Chaminuka Lodge for their workshop in Lusaka. inspirations page 39 research work in 2016. This was a Developing a better appreciation of Islamic Report from the Board page 40 gesture of appreciation for their Using your cow to obtain credit for your Business: the research work which was published in finance as representing an alternative financing mechanics of financing statement page 41 various journals. The package includes arrangement to the conventional approach to Experiences of Interns page 43 full board for 2 and a bottle of wine. The BOZ imprisons Mansa Central correctional facility two recipients are Dr Jonathan Chipili delivering financial products and services page 44 and Dr Patrick Chileshe. provides a good starting point for the eventual List of Banks and other Financial Service Providers page 45 removal of the obstacles that stand in the way to Mr Jacob Mkandawire has its application in this country. been seconded to the Ministry of Finance as The second answer to this question can be Ad v i s o r – D e b t a n d derived from examining the great potential that Government Investment for a period of 3 years. His Islamic Banking might have for improving secondment was with effect from April financial diversity and inclusiveness in an 2017. economy. Bank of Zambia Deputy Governor – Operations, Mr Denny Dumbwizi has proceeded on a 1 year Dr Bwalya Ng'andu said this when he officially leave of absence. He is opened the Islamic Finance and Banking currently working for the Workshop that took place at the Taj Pamodzi United Nations Joint Staff Pension Fund as a Risk Hotel in Lusaka, recently. Views expressed in this publication are not Officer in the Risk Management and The Deputy Governor added that introducing a necessarily those of the Bank of Zambia Management Legal Services Unit. He is based at the or the Editor UN Headquarters in New York. The range of sharia compliant products, in the case United Nations Joint Staff Pension Fund of this country, for instance, may very well help is a Defined Benefit Pension Plan Head Office established by the General Assembly of bring into the formal financial sector certain Bank of Zambia, Bank Square, Cairo Road the United Nations to provide economic actors who have elected to exclude P. O. Box 30080 Lusaka, 10101, Zambia retirement and related benefits for the Tel: + 260 211 228888/228903-20 staff of the United Nations and 23 other themselves from participating in it because Fax: + 260 211 221764/237070 member organisations admitted to they object to the principles that underlie membership in the Fund. The Fund's E-mail:[email protected] conventional financial service provision or assets, as at end 2016, were valued at Website: www.boz.zm more than US$54 billion and serves because they consider available products as almost 200,000 participants, retirees lacking the right structure for their needs. and beneficiaries. His leave of absence was with effect from 31st March 2017. To Page 23 2 ZAMBANKER MARCH 2017 NEWS ZAMBIA WINS CYFI COUNTRY financial education and financial inclusion By Zambanker Reporter AWARD initiatives. She also congratulated the other nominees in this category and all winners in the Zambia has won the Child and Youth Finance The Global Inclusion Awards, a CYFI initiative, other categories. International (CYFI) Country Award in the recognise and honour those that achieve Dr Kankasa-Mabula said Financial Inclusion is 'Regional Winner – Africa' category for greatness and demonstrate innovation in one of the strategic objectives at the Bank of implementation of the National Strategy on financial, social and livelihoods education, Zambia that has been prioritised and winning Financial Education. The award was given at the financial inclusion and entrepreneurial support for this Award underscores the importance Global Inclusion Awards 2017 on May 3, 2017 in children and youth at national, regional and attached in this area. The Award will therefore Berlin, Germany and was received by Deputy international level. spur the Bank to push the financial inclusion Governor Administration Dr Tukiya Kankasa- Receiving the award on behalf of Zambia, the agenda further, as well as enhance its efforts to Mabula. Deputy Governor recognised the contribution of contribute to national, regional and international local partners in implementing and achieving goals on financial inclusion. Bank of Zambia values its collaboration with Child and Youth Finance International in fostering best practices in financial education and product development of financial products and services for children and youths, as well as the peer learning. 'We appreciate that the 6th Annual Global Inclusion Awards has been held during the Global Partnership for Financial Inclusion Forum, as this has given us an opportunity to learn more about the G20 agenda on financial inclusion and the planned partnership with Africa. This occasion has also enabled us to create and foster new stakeholder relationships on promoting financial inclusion,' the Deputy Governor said. The other finalists in the Regional Winner – Africa category were Rwanda and Burkina Faso. Award categories at the 6th Global Inclusion Awards Ceremony included the CYFI Country Award, the Global Money Week Award, the Economic Citizenship Education Award, the Child and Youth Friendly Banking Award, the Outstanding Youth Economic Citizenship Award and the Global Youth Entrepreneurs Award. Other countries that received the CYFI Country Awards are Peru who got the Regional Winner – Americans and the Caribbean, Indonesia who got the Regional Winner - Asia and the Pacific, Romania who got the Regional Winner – Europe and Central Asia and Egypt who got the Middle East and North Africa awards. The Global Inclusion Awards ceremony was organised by CYFI and the German G20 Presidency/German Federal Ministry for Dr Tukiya Kankasa Mabula receiving the country award Economic Cooperation and Development. MARCH 2017 ZAMBANKER 3 NEWS Kankasa-Mabula joins the World Bank's Advisory Council on Gender and Development By Zambanker Reporter eputy Governor – Administration Dr Tukiya Kankasa-Mabula has been Dnominated to join the World Bank Group's Advisory Council on Gender and Development. The Advisory Council has a maximum of twenty two (22) members who are invited by the Managing Director of the World Bank and endorsed by the President of the World Bank group. Council members serve a two-year term, renewable at the discretion of the Managing Director. In a letter dated 23rd January 2017 to Dr Kankasa- Mabula, Chief Executive Officer of the World Bank Group Kristalina Georgieva said the Deputy Governor's official two-year term would begin in Spring 2017 should she accept the nomination. The Advisory Council is composed of senior representatives from Bank Client countries and shareholders, internationally recognized private sector leaders, distinguished experts in areas and countries relevant to the World Bank Group gender strategy and civil society leaders in countries and fields relevant to the World Bank Group gender strategy. The council meets twice a year to consider progress on and constraints to gender equality globally and provide feedback and guidance of the World Bank Group's work on gender equality and women's voice.
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