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2025-01-01

CB Circular No. 13 of 2025 - Submission of Weekly Returns for Over-the-Counter Cash Transactions

The Bank of Zambia requires all commercial banks and deposit-taking non-bank financial institutions to submit weekly returns for over-the-counter cash transactions. These returns, effective from January 2025, must capture nine specific data points for both Kwacha and foreign currency transactions using the updated template. Institutions must upload the completed reports to the BSA system and email copies every Wednesday following each reporting period.

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[Bank of Zambia Logo]

Bank of Zambia OFFICE OF THE DEPUTY GOVERNOR - OPERATIONS

BOZ/EXEC/DG/prs/bp

April 4, 2025

CB Circular No. : 13/2025

To : All Heads of Commercial Bank and Deposit Taking Non-Bank Institution

SUBMISSION OF WEEKLY RETURNS FOR OVER-THE-COUNTER CASH TRANSACTIONS

Please note that the Bank of Zambia is in the process of implementing a new measure aimed at improving nationwide cash management and forecasting. This will ensure availability of accurate and timely data for efficient cash management. In this regard, all commercial banks and deposit taking non-bank financial institutions are required to submit weekly returns for over-the-counter (OTC) cash transactions to support this initiative.

You are, therefore, required to submit the weekly return for all Kwacha OTC cash transactions. In addition, the Bank has updated the weekly Foreign Currency return which should be submitted as per the attached template. The templates should include the following details:

  1. Transaction Date;
  2. Customer Name;
  3. Account Number;
  4. Transacting Branch;
  5. Town;
  6. Province;
  7. Transaction Amount;
  8. Transaction Type; and
  9. Economic Sector.

Kindly note that we will require data covering the period from January 2025. The submission date for these weekly returns is Wednesday subsequent to the reporting period. The returns should be uploaded onto the BSA system and copies emailed to CurrencyFrontOffice@boz.zm and banksupervision@boz.zm.

We trust that all commercial banks and deposit taking non-bank financial institutions will fully comply with this directive to facilitate the smooth implementation of the new measure. For inquiries or clarification, please contact Ms. Angela Nachivula Chileshe via email at anachivu@boz.zm and Ms. Lyness Phiri-Mambo via email at Lmambo@boz.zm.

[Signature] Francis Chipimo (PhD) DEPUTY GOVERNOR

Bank Square, Cairo Road, P.O. Box 30080, Lusaka, Zambia Tel:+260-211-399303, 399300, E-mail: dgo@boz.zm. Web: http://www.boz.zm

cc Governor Director – Banking and Currency Director – Prudential Supervision Director – Financial Conduct Supervision Director – Regional Office

Bank Square, Cairo Road, P.O. Box 30080, Lusaka, Zambia Tel:+260-211-399303, 399300, E-mail: dgo@boz.zm. Web: http://www.boz.zm

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