Regulatory Alerts2012-01-01
CB Circular 16/2012 Settlement of Cash Leg of LUSE Trades Through ZIPSS/RTGS
The Bank of Zambia mandates that the cash leg of all Lusaka Stock Exchange capital trades must settle through the Zambia Inter-bank Payment and Settlement System (ZIPSS) using central bank money. This requirement, effective September 3, 2012, aligns domestic settlement practices with international best standards for systemically important payments. Commercial banks and sponsor banks are required to comply with these new settlement procedures immediately.
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