Regulatory Alerts2020-09-28
Added · Updated
Extension of Measures Taken During the COVID-19 Period
The Bank of Zambia extends three operational measures to address ongoing COVID-19 impacts. Financial service providers must maintain a charge waiver for electronic money transfers up to K150.00, increase public education on digital fraud safeguards, and continue following Ministry of Health guidelines. The central bank will consult stakeholders and issue further advisories before lifting these requirements.
BANK of ZAMBIA
OFFICE OF THE DEPUTY GOVERNOR - OPERATIONS
BOZ/EXEC/DGO/bcps/bp
September 28, 2020
CB Circular No. : 25/2020
To : All Heads of Financial Service Providers
EXTENSION OF MEASURES TAKEN DURING THE COVID-19 PERIOD
Due to the continued prevalence of COVID-19 in the country, the following measures shall continue to be observed:
- Waiver of charges for Person-to-Person electronic money transfers up to K150.00;
- Increased sensitization of members of the public on the safeguards on the use of digital channels to guard against customers being defrauded; and
- Continued observance of the guidelines issued by the Ministry of Health.
The BoZ will advise, in consultation with all key stakeholders, when the measures will be lifted.
Francis Chipimo (PhD)
DEPUTY GOVERNOR – OPERATIONS
cc
Governor
Deputy Governor – Administration
General Counsel
Director – Banking, Currency and Payment Systems
Director – Bank Supervision
Director – Non-Bank Financial Institution Supervision
Bank Square, Cairo Road, P.O. Box 30080, Lusaka, Zambia Tel:+260-211-399303, 399300, E-mail: dgo@boz.zm. Web: http://www.boz.zm