Regulatory Alerts2011-01-01
CB Circular 01/2011: 2011 Calendar for Prudential Returns, Quarterly Financial Statements, and Bank Charges
The Bank of Zambia issued Circular 01/2011 to establish the 2011 submission calendar for monthly prudential returns, quarterly financial statements, and bank charges returns for commercial banks and non-bank financial institutions. Regulated entities must transmit monthly prudential data through the Risk Analysis Automation System by the eighth or tenth business day of the following month, with quarterly financial and bank charges reports due in April, July, October, and January. Non-compliance triggers daily penalties of K 500,000 for delayed or inaccurate prudential and bank charges filings, and K 1,500,000 for quarterly financial statement violations such as late submission, unauthorized publication, or incorrect reporting.
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