Bank of Zambia

P.O. Box 30080, LUSAKA
10101

Tel: 228888/228903-20

18 January 2001
CB Circular No. 05/2001

TO: ALL COMMERCIAL BANKS AND FINANCIAL INSTITUTIONS

Dear Sirs/Madam

YEAR 2001 ANNUAL LICENCE FEES

We wish to remind you that in accordance with Statutory Instrument No. 180 of 1995, the annual licence fees for the year 2001 were due on 1 January 2001 and, the deadline for payment of the fees is 31 January 2001.

As you are aware, late payment of annual licence fees attracts a penalty of 20% per month or part thereof of any outstanding amount of the licence fee.

Accordingly, you are advised to ensure that the fees are paid before 31 January 2001 as follows:

i) K 4,500,000 for banks ii) K 2,700,000 for non-bank financial institutions

We look forward to your utmost co-operation in this matter.

Yours faithfully

[Signature]

Dr Abraham Mwenda
DEPUTY GOVERNOR-OPERATIONS