Regulatory Alerts2014-01-01
Engagement of Foreign Exchange Brokers
The Bank of Zambia has lifted the suspension on foreign exchange broker engagements with immediate effect. Commercial banks may resume these partnerships while awaiting a forthcoming regulatory framework governing money market and foreign exchange operations. Banks requiring operational clarification should direct inquiries to the Director of Bank Supervision.
BANK Of ZAMBIA OFFICE OF THE DEPUTY GOVERNOR - ADMINISTRATION 19 March, 2014 CB Circular No: 08/2014 To: All Heads of Commercial Banks ENGAGEMENT OF FOREIGN EXCHANGE BROKERS Further to CB Circular No. 1012013 wherein the Bank of Zambia suspended the engagement of foreign exchange brokers, kindly be advised that the suspension has been lifted with immediate effect. The above notwithstanding, the Bank of Zambia will in due course issue an appropriate regulatory framework which will guide the operations of money market and foreign exchange brokers operating in Zambia. For clarification, Commercial Banks may contact the Director - Bank Supervision. ~±:2J~ Dr Tukiya Kankasa-Mabula DEPUTY GOVERNOR - ADMINISTRATION Cc Governor Bank Square, Cairo Road, P.O. Box 30080, Lusaka, Zambia. Tel: +260-211-229930 Fax: +260-211-222808 E-mail: tkmabula@boz.zm. Web: http://www.boz.zm