played by various stakeholders, the bank of zambia believes that a multi - partner stakeholder process is the most appropriate for zambia, as it would enable greater mobilization of stakeholders and resources for the promotion of financial literacy in the country. the bank of zambia, will therefore, provide the initial leadership but it will be critical for all stakeholders to support, and buy - in into the strategy development process. ladies and gentlemen, the tremendous support of the various stakeholders to the agenda of the fsdp cannot go un - noticed. the technical and financial support provided by a number of our development partners including the swedish government, the finnish government, the world bank, imf, dfid, the united states treasury and first initiative, and now the financial education fund have gone a long way in slowly making this vision a reality. the bank of zambia and the government are, therefore, most grateful to our cooperating partners for helping us build capacity in our financial sector. honourable minister, it is also our view that the fsdp provides a unique opportunity through its structures, operating on the principle of private - public partnership, to take responsibility for overseeing the development of the financial education strategy for zambia. one of the key issues that this partnership should help address is achieving consensus on resource requirements for implementing financial education programmes and agreeing suitable funding models that can generate a stream of resources to support sustained provision of financial education over the long - term. ladies and gentlemen, it is now my pleasure to call upon the guest of honour, to give us his key note address and to officially open this workshop. honourable minister sir.

, and interest rate sensitivity ( camels ) approach to a more risk - based approach. a risk - based supervisory approach would involve the identification of key risks, the level of these risks and the key risk areas. after identifying these risk factors, a comprehensive supervisory framework with appropriate resources is then assembled to mitigate the risks. the amount of resources required is dependent on the level and intensity of the perceived risk. however, suffice to mention that this does not mean that the risk - based supervisory approach ignores the strengths of the camels approach, but rather addresses the weaknesses by putting more emphasis and resources on areas with potentially higher risk. ladies and gentlemen as many of us are aware, financial sector operations have become complex nowadays, as they entail, among others, managing financial, market and operational risks, which depend, to a large extent, on public confidence in the financial system. in this regard, proper supervision is critical to minimising risks as well as ensuring the stability of the financial sector and engendering public confidence. this justifies the need for effective regulation and supervision of the operations of banks and non - bank financial institutions compared to other business operations. further, with the increase in non - bank financial institutions, their level of risk has also risen. accordingly, the sheer size of the sector is of systemic importance, hence, effective and efficient regulation and supervision is required to stem any systemic risks. ladies and gentlemen i am happy to note that this workshop is addressing, in greater details, issues relating to the regulation and supervision of the non - bank financial sector, so as to ensure that the financial sector is safe, secure and efficient. as i conclude therefore, i wish to urge the workshop participants to participate actively in the deliberations and use this opportunity to tap from the vast experience of the resource persons. i have every reason to believe that this workshop will provide you with the opportunity to share experiences and enhance your knowledge of issues pertaining to regulation and supervision of the non - bank financial sector. with these remarks, ladies and gentlemen, it is now my honour and privilege to declare this regional workshop officially open. i thank you.