Regulatory Alerts1994-01-01
Bank of Zambia Circular 06/1994: Currency Declaration
The Bank of Zambia announces the total abolition of exchange controls, permitting unrestricted movement of funds across borders except for servicing debt incurred before January 28, 1994. All individuals transporting currency or valuables exceeding the equivalent of US $5,000 into or out of Zambia must formally declare these amounts to Customs authorities. Commercial banks, airlines, and customs offices are directed to distribute the attached declaration form to the travelling public to ensure compliance with this new policy.
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