Regulatory Alerts2001-01-01
Bank of Zambia Circular 05/2001: 2001 Annual Licence Fees
The Bank of Zambia mandates all commercial banks and non-bank financial institutions to remit their 2001 annual licence fees by 31 January 2001. Pursuant to Statutory Instrument No. 180 of 1995, banks must pay K 4,500,000 and non-bank institutions K 2,700,000, with any outstanding balances subject to a 20 percent monthly penalty. Financial entities are directed to settle these obligations immediately to avoid surcharges and ensure uninterrupted regulatory compliance.
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