Regulatory Alerts2005-01-01
Directive on Low Value Banknotes (K1,000 and Below)
The Bank of Zambia directs all commercial banks to strictly monitor and distinguish between fit and unfit low-value banknotes (K1,000 and below) when depositing currency at the Central Bank. Effective June 2005, banks must release fit notes to the public according to established quality standards and face a K500,000 charge for unsorted trunk deposits. These measures prevent the premature withdrawal of usable notes from circulation and ensure a steady supply of fit currency across the economy.
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