The Bank of Zambia was founded in 1964, succeeding the Bank of Northern Rhodesia, formed in 1963 from the Lusaka branch of the Bank of Rhodesia and Nyasaland. Headquartered in Lusaka, its principal duty is to create and implement monetary policy that maintains the country's economic stability, and it provides banking services to the government and commercial banks, acts as settlement agent, licenses, regulates and supervises banks and financial service institutions, and manages the country's banking, currency and payment systems.
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