Regulatory Alerts2014-01-01
Bank of Zambia Circular 12/2014 Revoking Statutory Instruments 33 and 55
The Bank of Zambia issued Circular 12/2014 to formally notify financial service providers of the revocation of Statutory Instruments 33 and 55, effective March 21, 2014. This revocation cancels all existing obligations under the repealed instruments and withdraws their attendant amendments, circulars, guidelines, and clarifications. The central bank will now facilitate stakeholder consultations to implement balance of payment monitoring laws and establish the Kwacha and Ngwee as Zambia's sole legal tender.
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