The Bank of Zambia through the Registrar of Banks, Financial Institutions and Financial Businesses has with immediate effect revoked the bureau de change licence of ATICS Bureau de Change Limited.
ATICS Bureau de Change Limited surrendered its licence to the BOZ last month on the 19th of June on account of unsustainable business operations.
The revocation of the licence entails that ATICS Bureau de Change Limited has ceased to operate as a bureau de change under the Banking and Financial Services Act and the Banking and Financial Services (Bureau de Change) Regulations, 2003.
However, the revocation of the licence does not relieve ATICS Bureau de Change Limited of any obligations it incurred or assumed during the period of validity of the licence.
This is contained in a press statement issued to ZANIS in Lusaka today by the office of the Assistant Director of Communications at the Bank of Zambia.