CB Circular No. 15 of 2020: Measures Taken During the COVID-19 Pandemic

[LOGO: BANK OF ZAMBIA]

OFFICE OF THE DEPUTY GOVERNOR - OPERATIONS

BOZ/EXEC/DGO/bcps/km

April 30, 2020

CB Circular No. : 15/2020

To : All Heads of Financial Service Providers

MEASURES TAKEN DURING THE COVID-19 PANDEMIC

As outlined in our Press Statement of April 3, 2020, the Bank of Zambia and industry stakeholders have undertaken a number of measures to encourage the use of digital financial services as opposed to using cash during the COVID-19 pandemic.

The Bank has noted the positive impact that these measures have resulted in so far and wish to commend the efforts from the various stakeholders and market players. Kindly be advised that the following measures will continue to be implemented as follows:

a) Waiver of charges for person to person electronic money transfers of up to K150. This measure shall be extended to June 30, 2020;

b) Provision of hand sanitisers and masks for all front line staff in all outlets; and

c) Sensitisation of members of the public on the use of digital channels to access financial services.

It is important that the collaborative efforts continue during the pandemic period and beyond.

Kindly be advised accordingly.

[SIGNATURE]

Francis Chipimo (PhD) DEPUTY GOVERNOR – OPERATIONS

cc Governor Deputy Governor – Administration Director – Banking, Currency and Payment Systems Director – Non-Bank Financial Institution Supervision Director – Bank Supervision General Counsel

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