Regulatory Alerts1999-12-07
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Bank of Zambia Circular No. 3/1999: Inter-Branch Accounts
The Bank of Zambia has deployed a supervisory team to audit the inter-branch accounts of all commercial banks due to the detection of unusually high reported balances. This examination directly addresses a regulatory concern regarding the systemic prevalence of inflated inter-branch figures. The central bank requires full cooperation from commercial banks to resolve these accounting discrepancies and restore accurate reporting standards.
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