Regulatory Alerts2000-05-15
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CB Circular 4/2000: Publication of Quarterly Financial Statements
The Bank of Zambia issued Circular 4/00 to mandate revised presentation formats for quarterly financial statements under the Banking and Financial Services Act of 1994. Effective for the quarter ending 30 June 2000, commercial banks must submit their statements for regulatory approval simultaneously with prudential returns and publish them within 30 days of each quarter-end. Non-compliance, including late publication, use of unapproved formats, or inaccurate reporting, triggers a daily penalty of K200,000 and may result in further enforcement action under the Act.
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