Regulatory Alerts2003-07-23
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Bank of Zambia Circular 13/2003: Primary Dealers in the Broad-Based Interbank Foreign Exchange System
The Bank of Zambia has appointed African Banking Corporation, Barclays Bank of Zambia, Citibank Zambia, Stanbic Bank Zambia, and Standard Chartered Bank as Primary Dealers in the Broad-Based Interbank Foreign Exchange System. All other commercial banks are designated to participate in the interbank market as Market Makers. This directive formally structures the Zambian foreign exchange market by distinguishing primary dealer privileges from general market maker participation.
BANK OF ZAMBIA
OFFICE OF THE DEPUTY GOVERNOR - OPERATIONS
July 23, 2003
CB Circular: No. 13/2003
To: All Commercial Banks
PRIMARY DEALERS - BROAD-BASED INTERBANK FOREIGN EXCHANGE SYSTEM
Reference is made to the above subject.
Kindly be advised that the following commercial banks have been appointed as Primary Dealers in the Broad-based Inter-bank Foreign Exchange System:
- African Banking Corporation (Z) Limited;
- Barclays Bank of Zambia Limited;
- Citibank Zambia Limited;
- Stanbic Bank Zambia Limited; and
- Standard Chartered Bank Limited.
All other commercial banks will participate in the interbank market as Market Makers.
Denny H Kalyalya (Dr) DEPUTY GOVERNOR – OPERATIONS
Cc: Governor
Bank Square, Cairo Road P.O. Box 30080, Lusaka, Zambia Tel: +260-1-226844 Fax: +260-1-237070 Email: dkalyaly@boz.zm Web: http://www.boz.zm/
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