Regulatory Alerts1996-01-01
Bank of Zambia Circular 8/1996: Foreign Exchange Delivery Commitment
The Bank of Zambia mandates all commercial banks to strictly honor foreign exchange delivery commitments on appointed value dates. Citing recent complaints about undelivered currency as a breach of regulatory standards and market trust, the central bank warns that such failures undermine financial market development. Any institution persisting in disorderly conduct or failing to deliver foreign exchange to the central bank or peer banks will face severe penalties.
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