Central Banking

Zambian banks implement clearing system by Dec 31

All Zambia banks are expected to subscribe to the Direct Debit and Credits Clearing (DDACC) stream of clearing transactions by Dec 31 2001. In a recent presentation, Bank of Zambia assistant director-payment system Willie Chishimba said banks have to satisfy DDACC requirements before the system is implemented on January 1 2001. DDACC is an electronic process of transferring files containing batches of transactions and is one of the processing streams used by the Zambia Electronic Clearing

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