Minister of Finance and National Planning, Situmbeko Musokotwane, says the restriction of the use of foreign currency for local transactions and phasing out of cheques are draft documents presented to stakeholders for consultations.
Dr. Musokotwane says the two regulations emanated from a private public dialogue forum, saying that the reports are being scrutinized before implementation
Speaking when he delivered a ministerial statement on the Foreign Currency Regulation and phasing out of cheques in the National Assembly today, Dr. Musokotwane said that implementation of the restriction of the use of foreign currency for local transactions is aimed at enhancing financial sector stability.
“The gradual phasing out of cheques is also at consultation level,” said Dr. Musokotwane.
By Angel Kasabo
