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 Administrator, Forbes, who remained until 1897, did little to establish an administration there. Before 1911, Northern Rhodesia was administered as two separate territories, Barotziland-North-Western Rhodesia and North-Eastern Rhodesia. The former was recognised as British territory by the Barotseland and North-Western Rhodesia Order-in-Council of 1899 and the latter by the North-Eastern Rhodesia Order-in-Council of 1900. Both Orders-in-Council regularised the position of the BSAC Administrators, the first of whom were appointed in 1895. Both Order-in-Councils confirmed that the territories had the status of protectorates, with the Colonial Office ultimately responsible for the welfare of their indigenous populations, despite BSAC administration. The Colonial