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BoZ receives K196.5m in State Funeral Account

BoZ receives K196.5m in State Funeral Account
By Joan Chirwa
Saturday August 30, 2008 [04:01]

THE Bank of Zambia (BoZ) has so far received a donation of K196.5 million in the State Funeral Account created to mitigate expenses incurred during President Levy Mwanawasa's funeral.

The Central Bank opened the State Funeral Account last week for well-wishers to donate whatever amount of money to assist during President Mwanawasa's funeral.

BoZ head of public relations Kanguya Mayondi stated in a press release yesterday that the Central Bank had since channeled the collected money to Cabinet Office for its intended purpose.

So far, BoZ has made a donation of K50 million while Indo Zambia Bank and Zambia National Commercial Bank (ZNCB) donated K45 million and K30 million respectively. Others are Stanbic Bank which donated K25 million, Bayport Financial Services and Standard Chartered both contributed K20 million each, well-wishers at Stanbic Bank and Indo Zambia Bank donated K5 million and K1.5 million respectively.

"The Bank of Zambia wishes to further announce that the account remains open until September 2, 2008 and that all funds collected through this account shall be promptly passed on to government," stated Mayondi.

Labels: BOZ, DEBT, INFLATION

posted by MrK @ 4:23 PM