Bank of Zambia confirms Deposit Insurance Scheme membership at 24 institutions

The Bank of Zambia published a public notice setting out the current membership of the Deposit Insurance Scheme established under the Banking and Financial Services (Deposit Insurance) Directives, 2025. The Scheme currently comprises 24 member institutions, made up of 15 commercial banks and nine deposit-taking non-bank financial institutions. The Bank noted that, upon commencement of the Directives, all licensed banks and deposit-taking non-bank financial institutions became members of the Scheme. The 15 commercial banks listed are AB Bank Zambia, Absa Bank Zambia Plc, Access Bank Zambia Ltd, Bank of China Zambia Ltd, Citibank Zambia Ltd, Ecobank Zambia Ltd, First Alliance Bank Zambia Ltd, First Capital Bank Zambia Ltd, First National Bank Zambia Ltd, Indo‑Zambia Bank Ltd, Stanbic Bank Zambia Ltd, Standard Chartered Bank Zambia Plc, United Bank for Africa Zambia Ltd, Zambia Industrial Commercial Bank Limited and Zambia National Commercial Bank Plc. The nine deposit-taking non-bank financial institutions listed are Bayport Financial Services Zambia, FINCA Zambia, LOLC Finance Zambia Ltd, Madison Finance Company Limited, Micro Finance Zambia Limited, National Savings and Credit Bank, Pulse Financial Services Limited trading as Entrepreneurs Financial Centre (EFC) Zambia, Vision Fund Zambia and Zambia National Building Society. Any future changes to Scheme membership will be communicated through the Government Gazette, daily newspapers of wide circulation or electronic media.