Regulatory Alerts2015-01-01
Daily USA Dollar Purchases from Commercial Banks
The Bank of Zambia mandates all bureaux de change to submit a new weekly return through the BSA system to track daily US dollar cash purchases from commercial banks. This reporting requirement supplements existing Monday submissions and utilizes a standardized template distributed electronically to key contacts. Bureaux must implement the updated process immediately to enhance regulatory oversight of foreign currency transactions.
[Logo: Bank of Zambia]
OFFICE OF THE DEPUTY GOVERNOR - OPERATIONS
BOZ/EXE/DGO/nbfis/btp
2 June 2015
TO : Chief Executive Officers All Bureaux de Change
DAILY USA DOLLAR PURCHASES FROM COMMERCIAL BANKS
The above subject matter refers.
In order to improve the monitoring of USA Dollar cash purchases from commercial banks by bureaux de change, the Bank of Zambia has introduced the attached weekly return which all bureaux de change shall henceforth be required to submit to the Bank of Zambia via the BSA system. This is in addition to other weekly returns which should be submitted every Monday.
A soft copy of the return template will be e-mailed to your key contact persons.
Yours sincerely
[Signature]
Bwalya K. E. Ng'andu (Dr) DEPUTY GOVERNOR – OPERATIONS
Cc: Senior Director – Supervisory Policy Director – Non-Bank Financial Institutions Supervision Director – Bank Supervision
Bank Square, Cairo Road P .O. Box 30080, Lusaka, Zambia Tel: 260-211-226844, 228888 Fax:260-211-237070 E-mail:dgo@boz.zm. Web: http://www.boz.zm