Answer to Question #303673 in Finance for Andrick Angel

Question

What are various laws related to banks in Zambia and how they have been applied to save banks from collapsing? 10 marks

Answer 1

As a result of the Banking and Financial Services Act of 1994, Zambia's interest rates have been kept under control.

Increased interest rates on loans contributed to lower inflation in Zambia by reducing the quantity of money in the hands of consumers.