Regulatory Alerts2015-01-01
Bank of Zambia Interbank Foreign Exchange Market Rules (Circular No 12/2015)
The Bank of Zambia issued Circular No 12/2015 to enforce Interbank Foreign Exchange Market rules following recent market pressures and instances of non-compliance. Commercial banks must submit printed copies of all Reuters Dealing messages executed between 31 August and 3 September 2015 to the Financial Markets Department. These submissions are due by 09:30 hours on Friday, 4 September 2015, to verify trader adherence and restore market orderliness.
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BANK OF ZAMBIA OFFICE OF THE DEPUTY GOVERNOR - ADMINISTRATION
BOZ/EXE/DGO/fmkts/cm
3 September 2015
CB Circular No: 12/2015
To : All Heads of Commercial Banks
INTERBANK FOREIGN EXCHANGE MARKET (IFEM) RULES
Following the recent foreign exchange market pressures, there is an observation that some interbank foreign exchange traders are in certain instances flouting Interbank Foreign Exchange Market (IFEM) rules that have been set out to deliver orderliness in the market.
In this regard, the Bank of Zambia is requesting your institution to provide us with printed copies of your Reuters Dealing messages consummated during trading hours since Monday, 31 August, 2015 to close of business Thursday, 3 September, 2015.
The copies should be delivered to our Financial Markets Department by 09:30 hours on Friday, 4 September, 2015.
[Signature] Dr Tukiya Kankasa-Mabula DEPUTY GOVERNOR – ADMINISTRATION
Cc: Commercial Bank Treasurers
Bank Square, Cairo Road, P.O. Box 30080, Lusaka, Zambia. Tel: +260-211-229930 Fax: +260-211-222808 E-mail: tkmabula@boz.zm. Web: http://www.boz.zm