Regulatory Alerts2012-01-01
Implementation of Cheque Truncation Clearing System in Zambia
The Bank of Zambia directed all commercial banks to address critical failures in User Acceptance Testing and the lack of CTS compliant cheques. Banks must submit sample cheques for validation by August 31, 2012, and attend weekly progress meetings to assess preparedness. Consequently, the go-live date for the Cheque Truncation System has been postponed pending a determination of industry readiness.
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