Regulatory Alerts2024-01-02
Added · Updated
CB Circular No. 01/2024 - Revised Directives on Foreign Exchange Cash Transactions
The Bank of Zambia has revised its foreign exchange cash transaction directives to exempt export-related cash payments from the daily US$100,000 limit. Exporters must deposit foreign currency cash into Zambian bank accounts, supported by an invoice, Form CE20 with a unique consignment reference, and a matching cash deposit slip. Commercial banks remain obligated to enforce strict Know Your Customer protocols and submit accurate reports to the Financial Intelligence Centre and the central bank.
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