Regulatory Alerts2023-01-01
CB Circular No. 28: Trial Run of the Export Proceeds Tracking Framework
The Bank of Zambia has introduced a new Export Proceeds Tracking Framework requiring all exporters to route earnings through Zambian-domiciled bank accounts, with full payment documented within three months of export. A trial period running from October 23 to November 30, 2023 will test the system's integration with the Electronic Balance of Payments and ASYCUDAWORLD platforms to enhance external sector statistics. Commercial banks must submit designated officer contact details by October 19, 2023 ahead of the framework's full implementation on January 1, 2024.
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