Regulatory Alerts2021-07-21
Added · Updated
Bank of Zambia Circular No. 12 of 2021: Approved Foreign Exchange Broker
The Bank of Zambia has approved CSL Capital UK Limited as a foreign exchange broker, authorizing commercial banks to conduct interbank currency transactions with the entity. This designation fulfills Section 9 of the Interbank Foreign Exchange Market Rules, which previously restricted authorized dealers to dealing exclusively with Bank-approved brokers. Commercial banks must update their broker registries accordingly and may contact the Financial Markets Department for operational guidance.
Bank Of Zambia
OFFICE OF THE DEPUTY GOVERNOR - OPERATIONS
BOZ/EXEC/DGO/fmkts/bp
July 21, 2021
CB Circular No. : 12/2021
To : All Heads of Commercial Banks
APPROVED FOREIGN EXCHANGE BROKER
Reference is made to CB Circular No. 22/2020 dated August 12, 2020 on the above subject.
As you are aware, Section 9 of the Interbank Foreign Exchange Market (IFEM) Rules prohibits Authorised Dealers from dealing with foreign exchange brokers that have not been approved by the Bank of Zambia. In this regard, the Bank wishes to advise that approval has been granted to the under listed foreign exchange broker to operate in Zambia’s foreign exchange market.
- CSL Capital UK Limited.
For further clarification, commercial banks are advised to contact the Bank of Zambia’s Financial Markets Department.
Francis Chipimo (PhD)
DEPUTY GOVERNOR – OPERATIONS
cc Governor
Bank Square, Cairo Road, P.O. Box 30080, Lusaka, Zambia Tel:+260-211-399303, 399300, E-mail: dgo@boz.zm. Web: http://www.boz.zm
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