Question

Discuss the reasons advanced in the design of regulations applicable to the Zambia Financial System. Kindly cite one relevant regulation in your discussion.

Note (please ensure that you adhered to all instructions):

1. Number of words:      2500 – 3000
2. Assignment format:   Justify
3. Reference Style:        Harvard Referencing Style

Answer 1

First of all I have been discussing about the financial sector of ZAMBIA. The overall strategic guidance and cordination of the financial sector in zambia is done by MINISTRY OF FINANCE which sticks to the policy named NATIONAL FINANCIAL SECTOR DEVELOPMENT POLICY 2017 and the NATIONAL FINANCIAL INCLUSION STRATEGY 2017-2022 whose main motive is to acheive universal access to and usage of a broad range of quality and affordable financial services. The bank of zambia is responsible for the regualtion of various financial institutions. These policies were introduced by the finance minister of that country.These policies offer full guidance and give strategic information to the government. Moreover zambia has specific targets in its strategic plan to increase inclusion from 59% to 75%

Various policies and strategies were introduced to build up or boost up the financial position are-;

NATIONAL STRTEGY ON FINANCIAL EDUCATION FOR ZAMBIA II 2019-2024

NATIONAL FINANCIAL SECTOR DEVELOPMENT POLICY 2017

NATIONAL FINANCIAL INCLUSION STRATEGY 2017-2022

NATIONAL STRATEGY ON FINANCIAL EDUCATION FOR ZAMBIA 2012-2017

RURAL FINANCE POLICY AND STRATEGY 2012

MICRO SMALL AND MEDIUM ENTERPRISE DEVELOPMENT POLICY 2008

Hence these policies were introduced to boost up the financial health of the economy moreover to broden the financial system of the country ZAMBIA