Regulatory Alerts2001-03-26
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Bank of Zambia Circular 16/2001: Statutory Reserve Ratio
The Bank of Zambia has issued Circular 16/2001 to mandate an immediate reduction in the minimum statutory reserve ratio for all commercial banks. Effective immediately, the required reserve ratio on both Kwacha and foreign currency deposits is lowered by five percentage points, decreasing from fifteen percent to ten percent. This directive follows up on prior regulatory guidance outlined in Circular 04/2001 dated January 12, 2001.
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