RegAlertRule · BOZ · 21 Aug 2008
Bank of Zambia Circular 6/2008 on Contributions Towards the President's Funeral
The Bank of Zambia issued Circular 6/2008 to all commercial banks requesting voluntary financial contributions towards the state funeral of President Levy Mwanawasa. The directive instructs banks to channel donations to a designated State Funeral Account at the central bank and to establish internal accounts for customer contributions. All collected funds must be transferred to the Government no later than September 3, 2008, with banks required to maintain records for accountability.
BANK OF ZAMBIA
OFFICE OF THE GOVERNOR
August 21, 2008
CB Circular No. 6/2008
TO: All Commercial Banks
CONTRIBUTIONS TOWARDS THE PRESIDENT'S FUNERAL
As all Chief Executive Officers of Commercial Banks are aware, the Nation will mourn our departed President, His Excellency, Dr Levy Patrick Mwanawasa, S.C, for 21 days effective August 19, 2008.
Chief Executives may wish to note that the funeral and the presidential election that will follow will have a significant impact on the National Treasury and may impact negatively on the implementation of the remaining projects of 2008 Budget. The Secretary to the Treasury in his Press Statement of August 21, 2008, indicated that the funding of the two events will be covered within the provisions of the 2008 Budget by constraining non-priority expenditures and realigning of resources without resorting to unprogrammed borrowing. The Secretary to the Treasury also indicated that any assistance from cooperating partners and well wishers would be most welcome.
In order to assist the Government in meeting the funeral expenditure, an account called the “State Funeral Account,” number 0014931764530 has been opened at the Bank of Zambia to receive contributions towards the State Funeral.
In this regard, I would like to request all banks that may wish to contribute towards this noble cause, to channel their contributions to the above mentioned account. Further, banks are urged to open similar funeral accounts into which their customers and the general public may contribute. Such contributions should then be channelled to the main account at Bank of Zambia.
Banks should keep a record of all donations for purposes of accountability and acknowledgement. The proceeds from the State Funeral Account will be handed to the Government as they accumulate and not later than September 3, 2008. Your generous contributions will be highly appreciated.
May the Soul of our beloved President Rest In Eternal Peace.
Caleb M Fundanga
GOVERNOR
cc: Deputy Governor - Operations
Deputy Governor - Administration
Bank Square, Cairo Road P. O. Box 30080, Lusaka, Zambia Tel: +260 -1-223307 Fax: +260-1-237070 Email: cfundanga@boz.zm Web: http://www.boz.zm/
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