Regulatory Alerts2025-01-01
Submission of Account Mandates for Accounts Held at the Bank of Zambia
The Bank of Zambia requires all commercial banks to submit updated account mandates detailing authorized signatories and agents. These submissions must be delivered to the Director of Banking and Currency by the tenth working day of each January, with a one-time deadline of March 31, 2025 for the current year. A daily penalty of ZMW500 applies to mandates that remain outstanding or uncorrected after their respective due dates.
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