Regulatory Alerts2005-01-01
Bank of Zambia Circular 08/2005: Replacement of Old Bank Operating Licences
The Bank of Zambia requires all commercial banks to surrender their outdated operating licences, originally issued under the 1994 Banking and Financial Services Act, in exchange for new licences compliant with Chapter 387 of Zambian law. Institutions must physically return the original documents to the central bank for cancellation before receiving the updated certificates. The regulatory authority has set a firm compliance deadline of December 31, 2005, for this mandatory licence replacement process.
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