Regulatory Alerts2002-01-01
Bank of Zambia Circular 14/2002: Deadline for Rediscount and Transfer Application Forms
The Bank of Zambia mandates strict submission deadlines for commercial banks, requiring rediscount application forms by 15:00 and transfer forms by 14:30. The central bank will reject any applications that miss these deadlines and explicitly prohibits banks from rediscounting or transferring treasury bills with only two working days remaining until maturity. These measures aim to prevent processing delays, ensure timely collection by transferees, and allow sufficient time to generate accurate holders’ record reports for payment.
# BANK OF ZAMBIA
## OFFICE OF THE DEPUTY GOVERNOR – OPERATIONS
18 September 2002
CB Circular: No. 14/2002
To: All Commercial Banks
## DEADLINE FOR SUBMISSION OF REDISCOUNT AND TRANSFER APPLICATION FORMS
It has been observed that some commercial banks have been submitting rediscounts and transfer application forms very late. This has led to most work being processed late and consequently not collected by the transferees’ representatives.
The Bank of Zambia wishes to remind all commercial banks that the deadline for submission of duly completed rediscount and transfer application forms is 15:00 hours and 14:30 hours respectively. The deadline for submission will be strictly observed and all applications not conforming to the set guidelines will not be processed.
Kindly be advised that banks shall not be allowed to rediscount or transfer treasury bills with two working days to maturity. This is to enable Bank of Zambia to produce a holders’ record report for payment
Dr. Abraham Mwenda
DEPUTY GOVERNOR-OPERATIONS
Bank Square, Cairo Road, PO Box 30080, Lusaka 10101, Zambia Tel: 260-1-226844, Fax: 260-1-237070, email: amwenda@boz.zm
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