Regulatory Alerts1994-01-01
Bank of Zambia Circular 17/1994: Suppliers Line of Credit, Letter of Credit Extensions, Part Shipments, and Maize Imports
The Bank of Zambia issued Circular 17/1994 to authorize commercial banks to process remittances under pre-existing suppliers lines of credit following the abolition of the Exchange Control system. The directive permits banks to approve extensions on letters of credit and handle requests for partial shipments without prior regulatory approval. Additionally, commercial banks may process maize export applications provided the Ministry of Agriculture has issued a permit specifying the authorized export quantity.
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