THE Bank of Zambia says the Financial Stability Committee has assessed that near-term risks to financial stability have risen due to escalating geopolitical tensions that have fuelled the oil shock. In a financial stability statement, Monday, BoZ Governor Dr Denny Kalyalya said additional financial stability risks could emanate from heightened global economic policy uncertainty and breaches of cyber defences. Dr Kalyalya further pointed out that the Financial Stability Committee was concerned with vulnerabilities in the financial system arising from high loan and deposit concentrations and elevated dollarisation. “The Financial Stability Committee (FSC or Committee), at its meeting held in April 2026, assessed near-term risks to financial stability to have increased, largely reflecting the escalation in geopolitical tensions that fuelled the...