Regulatory Alerts2014-01-01
Bank of Zambia Circular No. 12/2014: Revocation of the Currency and Balance of Payment Monitoring Regulations
The Bank of Zambia, through its Deputy Governor for Administration, issued Circular No. 12/2014 to formally announce the revocation of Statutory Instruments No. 33 of 2012 and No. 55 of 2013 effective March 21, 2014. This revocation cancels all obligations, amendments, circulars, and guidelines previously issued under those two instruments. The central bank will now facilitate stakeholder consultations to implement the legal framework for monitoring balance of payment transactions and establishing the Kwacha and Ngwee as Zambia’s sole legal tender.
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