Regulatory Alerts2002-01-01
2003 Annual Licence Fees for Commercial Banks
The Bank of Zambia mandates all commercial banks to pay their annual licence fees for the 2003 fiscal year. Each institution must remit K4,500,000 by the January 31, 2003 deadline, as the fees officially become due on January 1, 2003. Failure to remit the full amount on time will trigger a late payment penalty of 20 percent per month or part thereof on any outstanding balance.
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