The Zambia Institute of Chartered Accountants has opposed revisions of the functions of the Bank of Zambia as contained in the constitution amendment bill number ten that is before Parliament.
The bill has proposed for the deletion of clause two of Article 213 which deals with the functions of issuing currency and regulating banking and financial services to be taken away from the Bank of Zambia among other functions.
Speaking when he appeared before the select Parliamentary Committee, Institute of Chartered Accountants Executive Director Jason Kazilimani stated that the institute of Accountants has proposed for the retention of existing functions of the Central Bank as there is no mention in the bill as to which body will be responsible for the functions of the Bank of Zambia.
Mr. Kazilimani added that the institute has opposed a proposal to limit the term of office of the Auditor General to seven year saying having a limited tenure will influence the independence of the office