BANK OF ZAMBIA

Tel. 228888/228903-20

P.O. Box 30080 Lusaka
10101

15th March 1994

C B Circular No. 4/94

TO : ALL COMMERCIAL BANKS AND BUREAUX DE CHANGE

Dear Sirs

STATISTICS ON FOREIGN EXCHANGE TRANSACTIONS

As you are all aware, the Minister of Finance in his Budget Address to the National Assembly announced the suspension of the Exchange Control Act with effect from January 28, 1994. Consequently, all foreign exchange transactions are now permissible and may be effected without requiring prior approval of the Bank of Zambia. However, the Bank of Zambia will continue to need statistical data from banks and bureaux in order for the Research Department to continue monitoring economic developments more effectively. For this purpose, please find the FXSALES and FXPURCHASES forms for completion by purchasers and/or sellers of foreign exchange.

The above prescribed forms are simple and straightforward and the data to be provided will be for economic statistics only.

Please bring the contents of this circular to the attention of your customers.

Yours faithfully

Signature

H F MAJULA
DIRECTOR-FOREIGN OPERATIONS

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FX SALES

BANK OF ZAMBIA

Report on the Purpose of Foreign Exchange Transactions

To be filled in by each person who sells foreign exchange in Zambia

(This form is intended to provide Bank of Zambia with data for statistical purposes only. Its complement is a requirement under the Bank of Zambia Act.)

Name of Seller: _______________________

Amount of Foreign exchange: __________ Kwacha Equivalent: __________

Date: _______________________

I hereby wish to sell foreign currency acquired as follows (please tick the appropriate box)

Exports of Goods

• ZCCM [ ]
• Other Exports of Goods [ ]

Exports of Services

• International Organisations and Diplomatic Missions [ ]
• Other Export Services [ ]

Capital

• Borrowing in off shore markets [ ]
• Remittance from abroad [ ]
• Other (specify) [ ]

May be completed by a Bank and/or bureau on behalf of its customers

Foreign Exchange Dealers must deliver weekly batches of the completed forms every Monday by 12.00 Hours to the Director, Research Department, Bank of Zambia, Lusaka

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FXPURCHASES

BANK OF ZAMBIA

Report on the Purpose of Foreign Exchange Transactions

To be filled in by each person who buys foreign exchange in Zambia

(This form is intended to provide Bank of Zambia with data for statistical purposes only. Its complements is a requirement under the Bank of Zambia Act.)

Name of Purchaser: _______________________

Amount of Foreign exchange: __________ Kwacha Equivalent: __________

Date: _______________________

I hereby wish to purchase foreign currency for the following purpose(s) (Tick the appropriate box)

Import -

• Goods [ ]
• Services [ ]

of which

• Education/medical/travel [ ]
• Gratuity/pension/inducement allowance [ ]
• Dividends/management fees [ ]
• Freight/clearing/port charges/foreign airlines/IATA bills/insurance [ ]
• Other services (specify) [ ]

Capital

• Emigration/capital transfers/investment abroad [ ]
• Debt servicing [ ]

Other purposes (Specify) [ ]

May be completed by a bank and/or bureau on behalf of its customers

Foreign Exchange Dealers must deliver weekly batches of the completed forms every Monday by 12.00 Hours to the Director, Research Department, Bank of Zambia, Lusaka.