Regulatory Alerts2015-01-01
Bank of Zambia Circular No. 4/2015: 2016 Submission Calendar for Regulatory Returns
The Bank of Zambia issued Circular No. 4/2015 to establish the 2016 submission deadlines for monthly, quarterly, and specialized regulatory returns applicable to all Non-Bank Financial Institutions and Bureaux de Change. The directive mandates that prudential and credit market monitoring returns be filed electronically via the Institutional Information Submission System, while quarterly financial statements and cost of borrowing demonstrations must be submitted by email. Non-compliance triggers daily penalties ranging from K500 for delayed or incorrect prudential filings to K1,500 for financial statement breaches involving missing approvals, wrong formats, or inaccurate data.
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