Regulatory Alerts2001-12-04
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Bank of Zambia Circular 29/2001: 2002 Annual Licence Fees
The Bank of Zambia mandates all commercial banks to remit the 2002 annual licence fee of K 4,500,000 pursuant to Statutory Instrument No. 180 of 1995. Banks must settle this amount by 31 January 2002, as the original due date was 1 January 2002. Any outstanding balance after the deadline will be subject to a late payment penalty of 20 percent per month or part thereof.
BANK OF ZAMBIA
OFFICE OF THE DEPUTY GOVERNOR - OPERATIONS
Tel : 260-1-228888/228903 P O Box 30080
LUSAKA 10101
4 December 2001
CB Circular No. 29/2001
TO : ALL COMMERCIAL BANKS
Dear Sirs/Madam
YEAR 2002 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 2002 are due on 1 January 2002 and, the deadline for payment of the fees is 31 January 2002.
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 fee of K 4,500,000 for banks is paid before 31 January 2002
We look forward to your usual co-operation in this matter.
Yours faithfully
Abraham Mwenda (Dr)
DEPUTY GOVERNOR-OPERATIONS
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