Regulatory Alerts2022-01-01
Bank of Zambia Circular 01/2022: Calendar for Submission of Periodic Returns and Financial Statements
The Bank of Zambia issued Circular No. 01/2022 to establish a standardized submission calendar for periodic returns and financial statements from non-bank financial institutions and bureaux de change. The directive mandates specific due dates for monthly, weekly, quarterly, and annual reports, which must be filed through the Bank Supervision Application System or designated email addresses. Non-compliance triggers daily penalty fees ranging from K100 to K1,500 depending on the return type and nature of the delay or error.
[LOGO] BANK OF ZAMBIA OFFICE OF THE DEPUTY GOVERNOR - OPERATIONS
BOZ/EXEC/DGO/nbfis/bp
January 11, 2022
NB Circular No. : 01/2022
To : All Heads of Non-Bank Financial Institutions and Bureaux de Change
CALENDAR FOR SUBMISSION OF PERIODIC RETURNS AND FINANCIAL STATEMENTS
In accordance with the provisions of sections 60 and 88 of the Banking and Financial Services Act, please be informed that the due dates for submission of periodic returns and financial statements to the Bank of Zambia are as follows:
1. MONTHLY PRUDENTIAL RETURNS
| Month | Due Date |
|---|---|
| January | February 14, 2022 |
| February | March 11, 2022 |
| March | April 14, 2022 |
| April | May 16, 2022 |
| May | June 14, 2022 |
| June | July 19, 2022 |
| July | August 15, 2022 |
| August | September 15, 2022 |
| September | October 14, 2022 |
| October | November 14, 2022 |
| November | December 14, 2022 |
| December | January 16, 2023 |
2. WEEKLY RETURNS
The weekly Bureau de Change Return shall be submitted on the Monday or first business day following the end of the week to which the return relates.
...2/-
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
NB Circular No. 01/2022 - 2 - January 11, 2022
3. QUARTERLY FINANCIAL STATEMENTS FOR PUBLICATION
1st Quarter | April 14, 2022 2nd Quarter | July 19, 2022 3rd Quarter | October 14, 2022 4th Quarter | January 16, 2023
4. ANNUAL AUDITED FINANCIAL STATEMENTS
The Annual Audited Financial Statements should be submitted three calendar months after the end of the institution's financial year in accordance with section 88(4) of the Banking and Financial Services Act.
5. QUARTERLY DEMONSTRATION OF THE COST OF BORROWING RETURNS
1st Quarter | April 14, 2022 2nd Quarter | July 19, 2022 3rd Quarter | October 14, 2022 4th Quarter | January 16, 2023
6. QUARTERLY CREDIT MARKET MONITORING PROGRAMME RETURNS
1st Quarter | April 14, 2022 2nd Quarter | July 19, 2022 3rd Quarter | October 14, 2022 4th Quarter | January 16, 2023
7. MONTHLY PAYMENT SYSTEMS RETURNS
January | February 14, 2022 February | March 11, 2022 March | April 14, 2022 April | May 16, 2022 May | June 14, 2022 June | July 19, 2022 July | August 15, 2022 August | September 14, 2022 September | October 14, 2022 October | November 14, 2022 November | December 14, 2022 December | January 16, 2023
...3/-
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
NB Circular No. 01/2022 - 3 - January 11, 2022
The Prudential Returns, Weekly Bureau de Change Returns and the Credit Market Monitoring Programme (CMMP) Returns should be submitted through the Institutional Information Submission System of the Bank Supervision Application System via https://bsa.boz.zm/bsa.
With regard to the soft copies of the Quarterly Financial Statements for publication and the Demonstration of the Cost of Borrowing Returns, these should be submitted to nbfireturns@boz.zm while the soft copies of the payment systems returns should be submitted to psdreturns@boz.zm.
A penalty of K500.00 per return per day will be charged for any incorrect or delayed submission of a return other than the Weekly Bureau de Change Return for which a penalty fee of K100.00 per return per day will be applicable. A penalty of K500.00 per day will also be charged for delayed submission of Annual Audited Financial Statements. In the case of Quarterly Financial Statements for publication, a penalty of K1,500.00 per return per day shall apply in any of the following circumstances:
- Failure to submit the quarterly financial statements;
- Failure to obtain Bank of Zambia approval prior to publication;
- Publication of financial statements using incorrect formats; and
- Publication of incorrect information.
[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