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BoZ Disputes Reports That Bill 10 Will Take Away Its Money Printing Powers

The Bank of Zambia has said the Constitution of Zambia (Amendment) Bill No. 10 of 2019 will not take away some of its powers as reported on social media.

The central bank has stated that the proposed provisions in the Bill were motivated by the Bank which is of the view that the Constitution should only contain broad constitutional principles which are operationalised through detailed legislation passed by parliament.

“The Bank of Zambia is aware of numerous social media reports suggesting that the proposed Constitution of Zamboa (Amendment) Bill No. 10 of 2019 seeks to take away some of the powers vested in the Central Bank such as supervising the financial sector and printing of currency. The said social media reports allege that the powers being taken away will now be performed by the Central Government through Cabinet. The Bank wishes to state that the said reports are not correct,” it has stated.

5 Comments

  1. Lisa

    But why have you been in mute mode all this time? Talking after the bill 10 has been deferred or defeated indictes that you are also a ‘snake in the grass’ just like pf.

    Reply
  2. Ii

    THE WALKING OUT OF HOUSE BY THE OPPOSITION MPS IS NOW YIELDING POSITIVE RESPONSE THRU DENIALS FROM THOSE THAT WERE BEHIND BILL10 AMPUTATION.

    Reply
  3. Jms

    Do argue, just maintain to show how innocent and untrue the story is,but if u keep on arguing it may be true.

    Reply
  4. abilima

    Lisa and li – The problem is you do not want to read. Read the new Draft that is before Parliament and you will be more educated.

    Reply
  5. Fonko Fonko

    It’s unfortunate that people who are ignorant about the topic are the first two to comment. Why comment on the process you not conversant with?Sometimes silent is gold!

    Reply

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