FINANCE Minister Dr Situmbeko Musokotwane has clarified that proposals on the draft foreign currency regulations do not mean a return of foreign exchange controls. And Dr Musokotwane says the use of cheques has reduced drastically because people have realised that it is an inefficient way of exchanging money. Delivering a ministerial statement on the proposed ban on the use of cheques and foreign currency for local financial transactions, Thursday, Dr Musokotwane said both matters were being presented to stakeholders for consultation. “Both matters pertaining to the draft foreign currency regulations as well as the phasing out of cheques, are draft proposals that are being presented to stakeholders for consultation by the Bank of Zambia (BOZ). On 20th June 2024, the...