Regulatory Alerts1996-01-01
Bank of Zambia Circular 09/1996 on Insider Lending and Large Credit Exposures
The Bank of Zambia mandates all commercial banks to submit monthly reports detailing large loans and insider lending within ten working days following each month. This directive implements Statutory Instruments No. 96 and No. 97 of 1996, which establish new regulatory frameworks and compliance standards for credit exposures and insider transactions. Banks must also immediately rectify any existing credit facilities outstanding as of 21 June 1996 that violate the newly enacted regulatory provisions.
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