Regulatory Alerts1998-01-01
Bank of Zambia Circular 1/1998: Submission of Prudential Returns
The Bank of Zambia mandates all licensed financial institutions to submit amended prudential returns, including updated balance sheet and income statement formats, effective 31 January 1998. The circular requires cumulative calendar-year income statements and specifies filing frequencies ranging from monthly to annually for fourteen distinct regulatory schedules, with CEO and Chief Accounting Officer certification of accuracy. A daily penalty of K100,000 is imposed for late or incorrect submissions, and institutions must direct completed returns to the Financial System Supervision Department.
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