Regulatory Alerts2003-01-01
Bank of Zambia Circular 20/2003 on Tariff Guides
The Bank of Zambia has directed all commercial banks to rectify non-compliance with the 1995 Banking and Financial Services Regulations regarding the mandatory disclosure of all deposit account service charges. Banks must revise their Tariff Guides to explicitly state either all applicable charges or confirm that undisclosed fees will be provided upon request or at the time of service. Affected institutions are required to implement these amendments immediately and submit copies of their updated guides to the central bank for verification.
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