Regulatory Alerts2002-01-01
Application for Off-Tender Government Securities Transactions
The Bank of Zambia mandates that commercial banks and off-tender agents must eliminate artificial ceilings on government securities purchases to resolve investor complaints about uninvested funds. Financial institutions are required to allow clients to utilize their full account balances for bond or Treasury bill acquisitions, provided only minimum balance and operational requirements are satisfied. This directive applies to all off-tender transactions and explicitly permits the deduction of handling fees from the available account balance.
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