Bank of Zambia Circular 17/1994: Suppliers Line of Credit, Letter of Credit Extensions, Part Shipments, and Maize Imports

GENERAL MANAGER

BANK OF ZAMBIA
P.O. Box 30080 Lusaka
Tel: 221908/228912

7 December 1994

C B Circular No. 17/94

To : All Commercial Banks

Dear Sirs

SUPPLIERS LINE OF CREDIT, EXTENSIONS AND LETTERS OF CREDIT AND PART SHIPMENTS AND MAIZE IMPORTS

Following C B Circular No. 16/94 dated 30th November 1994, which phased out the OGL system, commercial banks are hereby advised that they have the authority to:

1. Process remittances under suppliers line of credit
   granted by Bank of Zambia prior to the abolition of Exchange Control.

2. Process extensions on letters of credit and requests
   for part shipment.

3. Process applications for maize exports where Ministry
   of Agriculture has granted an export permit specifying the quantity allowed.

Yours faithfully

G B MBULO
GENERAL MANAGER