BoZ Adds Voice To Proposed Constitutional Amendment

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Bank of Zambia Governor Denny Kalyalya says the constitution must not be crowded with functionalities but must rather stick to principals

Speaking when the Bank of Zambia made their submission before the select parliamentary committee on the constitution amendment bill on Monday morning, Dr. Kalyalya says among their submissions is a proposal to have additional functions in the Central Bank.

Among the functions proposed to be included in the central bank is to have proper management of the country’s international reserves and the management of the country’s payment systems all of which must be provided in an ACT of parliament.

The Bank of Zambia have submitted that the constitution must only capture the primary function of the Bank while the rest of the principals must be provided in an ACT of parliament proposed.

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