Regulatory Alerts2025-01-01
CB Circular No. 22/2025: Implementation of the Currency Automation System
The Bank of Zambia has officially launched the Currency Automation System (CAS), requiring all commercial banks to submit Heritage series cash withdrawal and deposit notices exclusively through the designated e-portal. The phased rollout, beginning at the Lusaka Head Office and expanding to regional offices and seven sub-chests nationwide, streamlines currency operations by automating electronic notifications and payment executions. While old series deposits retain existing procedures, the central bank will now process withdrawals, shortages, penalties, and overages directly to commercial banks’ settlement accounts via the Payment Originator facility.
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