Regulatory Alerts2013-01-01
CB Circular 05/2013 Calendar for Prudential Returns
The Bank of Zambia issued Circular 05/2013 to establish the submission deadlines for prudential returns, quarterly financial statements, and bank charges for commercial banks in 2013. The directive mandates that reporting be conducted in Kwacha Thousands effective January 1, 2013, due to currency re-denomination, and specifies electronic submission channels. Strict penalties of K500.00 per day for prudential returns and K1,500.00 per day for quarterly financial statements are imposed for late or non-compliant submissions.
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