Regulatory Alerts2012-01-01
Bank of Zambia Circular 18/2012 on Printing and Distribution of CTS Compliant Cheques
The Bank of Zambia directed all commercial banks to immediately complete certification with the Zambia Electronic Clearing House and print Cheque Truncation System compliant cheques for their entire customer base. Banks were mandated to withdraw old cheques and replace them with compliant versions by November 30, 2012, while submitting weekly electronic reports on issuance volumes. The central bank established February 1, 2013, as the definitive go-live date for the Cheque Truncation System with no further extensions permitted.
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