RegAlert2000-08-28
Added · Updated
Directives on Foreign Currency Cash Transactions
The Bank of Zambia has revised the regulatory limits for over-the-counter foreign currency cash transactions. Authorized financial institutions must now cap these transactions at an equivalent of US$5,000 for account holders and US$1,000 for non-account holders. These updated thresholds supersede the previous guidelines set in Circular No. 11/98 and apply immediately to all licensed entities.
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Bank of Zambia
P.O. Box 30080, LUSAKA
10101
Tel. 228888/ 228903-20
28 August 2000
CB Circular No. 6/2000
To: All Commercial Banks and Financial Institutions
Dear Sirs
DIRECTIVES OF FOREIGN CURRENCY CASH TRANSACTIONS
Further to CB Circular No. 11/98 issued on 2 December 1998, kindly be advised that the limits regarding over the counter foreign currency transactions are hereby revised.
Every bank and financial institution authorized to deal in foreign currency shall ensure that over the counter foreign currency cash transactions do not exceed the equivalent of US$ 5,000 in any currency for account holders and the equivalent of US$ 1,000 in any currency for non-account holders.
Abraham Mwenda (Dr)
DEPUTY GOVERNOR – OPERATIONS
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Lineage: Amended
Timeline
Amended 2 times · last 2015-10-09
- 2015-10-09
BOZBank of Zambia Directives on Foreign Currency Cash Transactionsamends
- 2012-11-09
This document amends: Bank of Zambia Directives on Customer Identification and Foreign Currency Cash Transactions, 1998
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Source: Bank of Zambia — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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