The Zambia Electronic Clearing House Limited was established in 1999 to be the sole national inter-bank clearing facility in Zambia.
ZECHL is a non-profit company setup by member commercial banks and the Bank of Zambia overseen by a Board of Directors comprising member banks (with 50% shareholding) who were present at the time of its formation and Bank of Zambia (with 50% shareholding) who chair the Board.
On coming into force of the National Payment Systems Act in June 2007, ZECHL was deemed designated.
ZECHL was established in 1999 following enhancements in the National Payments Systems to offer interbank clearing services to the payments ecosystem for small value payments.
In line with its mandate, ZECHL has implemented and currently manages the following systems:
National Financial Switch
Electronic Funds Transfer
Cheque Truncation System
Centralized Debit Mandates
Net Settlement Reporting
