Regulatory Alerts2015-01-01
Implementation of the New Cash Management System
The Bank of Zambia has instituted new cash withdrawal limits for commercial banks effective September 1, 2015. Middle and high value denominations now require minimum withdrawals of K20 million in Lusaka and K10 million regionally, while lower denominations remain unrestricted. These caps exclude transactions at Bank of Zambia Sub chests and do not affect cash deposits across the bank's Head Office, Regional Office, or sub locations.
Share