Regulatory Alerts2009-01-01
Bank of Zambia Circular 01/2009: Calendar for Submission of Prudential Returns, Quarterly Financial Statements, and Bank Charges for 2009
The Bank of Zambia issued Circular 01/2009 to establish the specific submission deadlines for Prudential Returns, Quarterly Financial Statements, and Bank Charges returns for the year 2009. The directive mandates that Prudential Returns be filed via the Risk Analysis Automation System while imposing strict daily penalties of K 500,000 for delayed or incorrect submissions. Additionally, a higher penalty of K 1,500,000 per day applies to Quarterly Financial Statements for failures to submit, obtain prior approval, or publish using incorrect formats.
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