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In 1964, the Bank of Zambia was created from the Bank of Northern Rhodesia, which itself had only formed a year earlier in 1963 from the Lusaka branch of the Rhodesia and Nyasaland bank. After its creation, and after the passage of the Bank of Zambia Act in 1965, the bank grew and was successful down through the decades.
The bank opened in 1927, with two branches in the capital city, Kampala, and one in Jinja, the country's second-largest commercial centre, at that time.In 1969, the bank acquired the Ugandan business of the Commercial Bank of Africa. [11]
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The bank was founded in 1996, registering as a corporate entity, receiving a banking license and commencing banking operations during that year. In the beginning, the institution was privately held and was known as Investrust Merchant Bank Zambia Limited. In 2002, the bank's name was changed to Investrust Bank Limited.
Retail banking is also distinguished from investment banking or commercial banking. It may also refer to a division or department of a bank which deals with individual customers. [1] In the U.S., the term commercial bank is used for a normal bank to distinguish it from an investment bank.
2. In the left navigation menu, click My Wallet | select View My Bill. - The Billing Statement page will appear. 3. From the dropdown menu, select the time period you want to view. Note - You can print your statement by clicking on the Print Statement button.
A standing order (or a standing instruction) is an instruction a bank account holder ("the payer") gives to their bank to pay a set amount at regular intervals to another's ("the payee's") account. The instruction is sometimes known as a banker's order. They are typically used to pay rent, mortgage or any other fixed regular payments.
A red-violet on multicolour underprint design was chosen for the new bill note. The new design resulted in a lot of confusion between the existing 50 ngwee bill and the new 5 kwacha one. This urged the Bank of Zambia to adopt a new design for the 50 ngwee banknotes in 1973.