Regulatory Alerts2006-01-01
CB Circular 08/2006 Item Value Limit (IVL) Implementation
The Bank of Zambia has commenced electronic payments to eligible creditors and suppliers via the ZIPSS/RTGS system, initiating a phased migration from cheques. Commercial banks are directed to promote ZIPSS/RTGS adoption for large and time-critical customer transactions while concurrently routing their own tax and supplier payments through the platform. This coordinated operational shift targets full Item Value Limit implementation by January 1, 2007, supported by continuous public education and system feedback mechanisms.
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