Regulatory Alerts2021-05-24
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CB Circular No. 7 of 2021 - Terms and Conditions 24 May 2021
The Bank of Zambia issued Circular No. 7 of 2021 to amend the Terms and Conditions of the Targeted Medium-Term Refinancing Facility effective May 24, 2021. The revisions remove the mandatory 60/40 funding split between priority and non-priority sectors and permit advances to non-targeted sectors for up to five years when necessary. Additionally, Financial Service Providers are now allowed to request tenor variations for approved but undispersed advances, with the revised document enclosed for reference.
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