Regulatory Alerts2020-01-01
Circular 32/2020: Calendar for Submission of Payment Systems Returns for 2021
The Bank of Zambia issued Circular 32/2020 to establish the mandatory submission calendar for monthly and quarterly payment systems returns for the 2021 financial year. Designated entities must file returns via email by the specified due dates or transition to the new Digital Financial Services Data Platform starting in May 2021, with a daily penalty of K500 applied for late or incorrect submissions. The circular additionally requires all designated payment system providers to submit audited annual financial statements within three calendar months after each financial year concludes.
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