Bank of Zambia in the 1938 formation of the Southern Rhodesia Currency Board, which was based in Harare, in present-day Zimbabwe. The Board's jurisdiction included Northern Rhodesia, now called Zambia and Nyasaland, known as Malawi today. In 1954 the Southern Rhodesia Currency Board was renamed the Currency Board of Rhodesia and Nyasaland, and as the winds of change were strong in Africa at the time, the currency board was transformed into the Bank of Rhodesia and Nyasaland in 1956. In 1964 the Bank of Zambia was created from the Bank of Northern Rhodesia, which itself had only formed a year earlier in 1963
Northern Rhodesia five shillings a year, but in 1920 the rate of hut tax was sharply increased, and often doubled, to provide more workers for the Southern Rhodesian mines, particularly the coal mines of Wankie. At this time the Company considered the principal economic benefit of Northern Rhodesia to be as a reservoir for migrant labour which could be called upon for Southern Rhodesia. British common law became the basis of the administration of Southern and Northern Rhodesia, unlike Roman Dutch law which applied in South Africa. In 1889, the British South African Company was given the power to establish a police