Regulatory Alerts2020-01-01
Bank of Zambia Circular No. 26/2020 on Paper and Plastic Cash Banding and Packaging System
The Bank of Zambia has mandated all commercial banks to replace rubber bands with paper and plastic packaging for banknote banding. This change eliminates tension-induced damage to circulating notes, requiring institutions to procure compatible equipment ahead of regulatory deadlines. Branches in Lusaka and Ndola must comply by December 31, 2021, while those outside these cities must implement the system by June 30, 2022.
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