Values and Functions
The Bank's Value system is underpinned by the slogan "The BOZ Way means ACTIONE". As demonstrated in the figure below;
The word "ACTIONE" stands for:
Accountability - We will take responsibility for the decisions and actions that we take.
Commitment to Excellence - We will always identify, agree and meet the requirements of both internal and external stakeholders and honour the commitments we make efficiently and to the highest quality standards.
Timeliness - We will always be on time in attending to Bank business.
Integrity - We will be honest, transparent, professional and be sincere in all our dealings.
Objectives - We will set ourselves challenging, specific, measurable, achievable, realistic and time bound (SMART) objectives and will work diligently towards achieving them.
New Ideas - We will be innovative and open to new ideas and develop for ourselves and our colleagues the skills to meet current and future challenges.
Equity - We will be fair and impartial in all our dealings
Values for Bank of Zambia as an instituion in relation to its stakeholders, namely:
Efficiency - The Bank of Zambia will strive to accomplish its work with minimal resources and in a timeframe appropriate for the tasks at hand.
Transparency - The Bank of Zambia will frequently communicate with governmental authorities, the National Assembly and the public concerning its policies, operations, and financial condition that will enable its stakeholders to assess the Bank's performance in relation to its objectives.
Accountability - The Bank of Zambia will be accountable for its policies and operations in relation to its mission.
- To ensure appropriate monetary policy formulation and implementation
- To act as the fiscal agent of the Government
- To license, regulate and supervise banks and financial service institutions registered under the Act to ensure a safe and sound financial system
- To manage the banking, currency and payment systems operations of the Bank of Zambia to ensure the provision of efficient and effective service to commercial banks, Government and other users.