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Tuesday, 12 June 2012

Local Purchases and Payments in Kwacha

The Minister of Finance signed Statutory Instrument No. 33 of 2012 on 7 May 2012 which became effective on 18 May 2012. Statutory Instrument No. 33 of 2012 prohibits the quoting, paying or demanding to be paid or receiving foreign currency as legal tender for goods, services or any other domestic transactions. Since then, there have been a number of questions raised seeking clarifications on Statutory Instrument No. 33 of 2012. The Bank of Zambia document embedded below provides further detail.
Local Purchases and Payments in Kwacha

3 comments:

  1. An enormous step backwards

    ReplyDelete
  2. This will further mess up tourism.

    ReplyDelete
  3. No more foreign currency salaries for fund managers! Did Govt really think this one through!

    ReplyDelete

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