The Bankers Association of Zambia (BAZ) was formally registered in 2008 to represent the interests of registered and licensed commercial banks operating in Zambia. Before the formal registration, the Association operated informally with the Chairing Bank in a particular year offering secretarial services and coordinating the activities of the members. The role of the Association has evolved over time to include promoting efficiencies, innovations, and industry growth and positioning members to continue supporting the private sector and Government economic development agendas enshrined in the National Development Plans and other policy documents. The Association aims to participate at the highest level of decision-making in the country through continued engagement with the Government, regulators, and other stakeholders.
The Association currently has a membership of 17 commercial banks and addresses industry issues through the following:
- Lobbying, advocacy, and policy influence
- Facilitating industry innovation and growth
- Building trust and improving public perception in the banking sector
- Engagement with critical stakeholders
- Financial literacy and education programs
- Customer complaints adjudication
To facilitate the transformation and growth of the banking sector and the Zambian economy.
To represent the rights and interests of the banking sector and champion industry growth and development through ‘Innovation, Thought Leadership, and Research.
The Association’s commitment to working with member banks, regulators, Government, bank customers and other stakeholders is reflected in the core values of LIC, which stands for:
Leadership: Thought leader, promoting industry and economic growth.
Innovation: Promote continuous innovation and shared digital payment channels in the industry.
Conduct: Promote ethical conduct and self-regulation in the industry.