Regulatory Alerts2003-01-01
Recall of Polymer Notes in Circulation
The Bank of Zambia has ordered the immediate withdrawal of approximately 5,000 K500 and K1,000 polymer notes from circulation due to defective serial numbers that rub off easily. Commercial banks must retain these notes as legal tender upon customer deposit but are prohibited from reissuing them, instead forwarding all affected currency to the central bank for exchange into equivalent paper notes. The central bank will issue further guidance regarding the release of replacement polymer notes once production issues are resolved.
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