Region

Jurisdiction

Regulator

2001-01-01

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.

Zambia

Bank of Zambia

# Bank of Zambia

P.O. Box 30080, LUSAKA  
10101  

Tel: 228888/228903-20  

18 January 2001  
CB Circular No. 05/2001  

**TO**: ALL COMMERCIAL BANKS AND FINANCIAL INSTITUTIONS  

Dear Sirs/Madam  

## YEAR 2001 ANNUAL LICENCE FEES  

We wish to remind you that in accordance with Statutory Instrument No. 180 of 1995, the annual licence fees for the year 2001 were due on 1 January 2001 and, the deadline for payment of the fees is 31 January 2001.  

As you are aware, late payment of annual licence fees attracts a penalty of 20% per month or part thereof of any outstanding amount of the licence fee.  

Accordingly, you are advised to ensure that the fees are paid before 31 January 2001 as follows:  

i) K 4,500,000 for banks  
ii) K 2,700,000 for non-bank financial institutions  

We look forward to your utmost co-operation in this matter.  

Yours faithfully  

[Signature]  

Dr Abraham Mwenda  
DEPUTY GOVERNOR-OPERATIONS