Regulatory Alerts1997-01-01
Bank of Zambia Circular on PTA Travellers Cheques System and Procedures
The Bank of Zambia mandates the immediate cessation of all PTA Travellers Cheques sales by commercial banks and bureaux de change effective 1 January 1997, following a COMESA regional decision driven by declining utility amid economic liberalization. Customers holding cheques purchased before 31 December 1996 retain the right to encash them through authorized agents until 24 January 1997. All proceeds from pre-31 December 1996 transactions must be fully surrendered to the central bank by the same 24 January deadline.
Share