Question 1

An act to provide for the additional functions, operations and management of the Bank of Zambia: provide for the composition of the Board of Directors Of the Bank of Zambia and provide for their functions; provide for the establishment of the monetary policy committee and the financial stability committee and provide for their functions; repeal and replace the Bank of Zambia Act, 1996; and provide for matters connected with, or incidental to, the foregoing.

Discus the following terms (50 marks)

1. Enhanced Monetary Policy:

2. Improved Financial Stability:

3. Strengthened Governance

4. Better Regulation:

5. Increased Transparency:

6. Improved Corporate Governance

7. Strengthened Regulatory Framework:

8. Repeal and Replace the Old Act:

9. Improved management of the Bank of Zambia:

10. More diverse Board of Directors:

11. Enhanced monetary policy committee:

12. Better financial stability committee: