Regulatory Alerts1998-01-01
Bank of Zambia Circular 9/1998: Penalty for Late Submission of Returns
The Bank of Zambia mandates that all licensed bureaux de change must submit their weekly financial returns every Monday. Operators submitting returns after the Monday deadline will incur a daily penalty fee of K100,000.00. Failure to settle this penalty within thirty days of notification will trigger the automatic revocation of the operator's bureau license.
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