Regulatory Alerts2012-01-01
Scaling Down of Industry Wide Tests for the Cheque Truncation System (CTS)
The Bank of Zambia issued Circular 23/2012 to commercial banks, directing a temporary reduction in Cheque Truncation System activities to prioritize currency rebasing preparations for January 1, 2013. Stakeholder meetings and industry-wide User Acceptance Tests are suspended until December 31, 2012, while banks must continue specific operational tasks such as disaster recovery site preparation and customer sensitization. These suspended activities are scheduled to resume in January 2013 ahead of the final CTS implementation date on February 1, 2013.
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