Regulatory Alerts2010-01-01
Bank of Zambia Circular 01/2010 Calendar for Submission of Prudential Returns
The Bank of Zambia issued Circular 01/2010 to establish the specific due dates for the 2010 submission of monthly and quarterly prudential returns, financial statements, and service charges by commercial banks and non-bank financial institutions. The directive mandates that prudential returns be filed via the Risk Analysis Automation System while imposing daily penalties of K500,000 for delayed or incorrect prudential filings and K1,500,000 for financial statement violations. Additionally, the circular specifies semi-annual charge reporting for non-bank institutions and extends these submission deadlines and penalties to returns related to United Nations Security Council Resolution 1822.
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