Regulatory Alerts2014-01-01
Bank of Zambia Circular 02/2014: Calendar for Prudential Returns, Quarterly Statements and Bank Charges
The Bank of Zambia has issued Circular 02/2014 to establish the official submission calendar for commercial banks' monthly Prudential Returns, quarterly Financial Statements, and Bank Charges for 2014. The directive mandates electronic submission of monthly returns through the Bank Supervision Application System and email delivery of bank charges, while specifying exact due dates ranging from February 12, 2014, to January 13, 2015. Non-compliance triggers daily penalties of K500 for delayed or incorrect Prudential and bank charges returns, and K1,500 for quarterly statement failures related to missing approvals, incorrect formats, or inaccurate data.
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