Regulatory Alerts2018-01-01
Bank of Zambia Directive on UN Security Council Resolutions 2371 and 2375 Regarding the DPRK
The Bank of Zambia requires all commercial banks and non-bank financial institutions to monitor and report on assets, accounts, and transactions held by or on behalf of individuals and entities listed in support of the Democratic People’s Republic of Korea. Institutions must submit monthly reports in the prescribed format to the Directors of Bank Supervision and Non-Bank Financial Institutions Supervision, detailing affected names, reference numbers, and asset types. These compliance filings are due within ten working days following the end of each calendar month to ensure adherence to UN Security Council Resolutions 2371 and 2375.
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