Bank of Zambia (monitoring of balance of payments) Regulations 2013
The Government of the Republic of Zambia has introduced Statutory Instrument No. 55 (SI 55), which empowers the Bank of Zambia to monitor inflows, outflows and international transactions.
The Bank of Zambia (BOZ) will work with financial service providers, the Zambia Development Agency and the Zambia Revenue Authority who will be required to collect specified documents from importers and exporters above a specified threshold, persons making certain remittances and those contracting external loans. Periodic monthly returns will therefore need to be submitted by financial services providers to BOZ.
The SI55 comes into effect on 1 July 2013.
Please find below links containing details on the SI55:
For further information, please contact SI55@stanbic.com.