Regulatory Alerts2022-01-01
Bank of Zambia Circular No. 01/2022 on the Calendar for Submission of Monthly Money Receipts and Remittances under the e-BoP Framework
The Bank of Zambia has issued Circular No. 01/2022 establishing the mandatory monthly submission schedule for Money Receipts and Remittances Returns (MRRR) under its electronic Balance of Payments monitoring framework. Commercial banks must electronically file these returns by the specified due dates in 2022, while daily transactions are required within two business days (T+2). Non-compliant, late, or incomplete submissions will incur a daily penalty of K500 until the breach is rectified.
[Logo: Bank of Zambia]
BANK of ZAMBIA OFFICE OF THE DEPUTY GOVERNOR - OPERATIONS
BOZ/EXEC/DGO/ecd/bp
January 24, 2022
CB Circular No. : 01/2022
To : All Heads of Commercial Banks
CALENDAR FOR SUBMISSION OF MONTHLY MONEY RECEIPTS AND REMITTANCES RETURNS UNDER THE ELECTRONIC BALANCE OF PAYMENTS MONITORING FRAMEWORK
Further to CB Circular No. 09/2019 of October 23, 2019, please be informed that the due dates for submission of complete monthly Money Receipts and Remittances Returns (MRRR) under the electronic Balance of Payment monitoring framework to Bank of Zambia for 2022 are as follows:
| Month | Due Date |
|---|---|
| January | February 8, 2022 |
| February | March 9, 2022 |
| March | April 8, 2022 |
| April | May 10, 2022 |
| May | June 8, 2022 |
| June | July 12, 2022 |
| July | August 9, 2022 |
| August | September 8, 2022 |
| September | October 10, 2022 |
| October | November 8, 2022 |
| November | December 8, 2022 |
| December | January 9, 2023 |
The MRRR should be submitted to the Bank of Zambia electronically using the e-BoP monitoring module by the set due dates while daily Money Receipts and Remittances Transactions (MRRT) should be submitted by the close of business (T+2). Failure to comply with this requirement will attract a penalty of K500 (Five Hundred Kwacha) per day for any delayed submission, incorrect or incomplete return until the breach is corrected.
Kindly be informed accordingly.
[Signature]
Francis Chipimo (PhD) DEPUTY GOVERNOR – OPERATIONS
Bank Square, Cairo Road, P.O. Box 30080, Lusaka, Zambia Tel:+260-211-399303, 399300, E-mail: dgo@boz.zm. Web: http://www.boz.zm