Regulatory Alerts2016-01-01
Calendar for Submission of Prudential Returns, Quarterly Financial Statements and Bank Charges for Personal Current Accounts and Other Services
The Bank of Zambia issued Circular No. 01/2016 to establish the official 2016 submission calendar for commercial banks regarding prudential returns, quarterly financial statements, and bank charges. The directive specifies monthly and quarterly due dates, mandates online or email submissions through designated channels, and imposes daily penalties of K500 for prudential and charge returns or K1,500 for financial statements in cases of delay, missing approval, or incorrect formatting. All commercial bank heads must adhere to these deadlines and reporting standards to ensure regulatory compliance throughout the year.
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