Regulatory Alerts2002-01-01
Settlement of Foreign Exchange Transactions
The Bank of Zambia mandates that all foreign exchange transactions conducted at its dealing window between the central bank and commercial banks must now be settled within two working days instead of four, effective immediately. This directive amends clause 2.2.4 of the Guidelines for Major Foreign Exchange Suppliers to align with standard international settlement periods. All other operational conditions governing the Bank of Zambia dealing window remain unchanged.
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