The Bank of Zambia has proposed that December 31 2012 be declared a Bank Holiday to allow for the smooth transition into the rebased Kwacha.
BOZ Head of Public Relations Kanguya Mayondi told a media briefing in Lusaka that the central bank has proposed to the Ministry of Finance to effect the necessary statutory instrument to have December 31 declared a public holiday.
Mr. Mayondi said the banks will not offer regular banking services on December 31 exccept for ATM based transactions.
He said this is an effort to ensure that the change over to the new currency is smooth.
Mr. Mayondi also revealed that the rebased kwacha notes and coins will be arriving in the country next month.
He said the central bank is ready to launch the rebased kwacha and that printing and minting of the currency is going on well.