Regulatory Alerts2003-01-01
Bank of Zambia Circular 09/2003 on Foreign Exchange Market Operations
The Bank of Zambia mandates that all commercial banks conduct foreign exchange transactions exclusively through the banking system to support the rollout of a unified interbank market. Direct inter-corporate foreign exchange trades are strictly prohibited to eliminate market segmentation and associated distortions. Banks must immediately notify their corporate clients of these new operational rules and ensure full compliance with the established interbank framework.
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