Regulatory Alerts2019-12-26
Added · Updated
CB Circular No. 16 of 2019: 2020 Submission Calendar for Prudential and Financial Returns
The Bank of Zambia has issued Circular No. 16 of 2019 to establish the official 2020 submission deadlines for monthly Prudential and Credit Market Monitoring returns, quarterly financial statements, and bank charges. Commercial banks must file these reports through the Bank Supervision Application System or email according to specified monthly and quarterly dates. The directive enforces daily penalties of K500 for delayed or incorrect monthly submissions and K1,500 for specific quarterly financial statement breaches until corrected.
BANK of ZAMBIA
OFFICE OF THE DEPUTY GOVERNOR - OPERATIONS
BOZ/EXEC/DGO/banksup/bp
December 26, 2019
CB Circular No.: 16/2019
To: All Heads of Commercial Banks
CALENDAR FOR SUBMISSION OF PRUDENTIAL RETURNS, CREDIT MARKET MONITORING PROGRAM RETURNS, QUARTERLY FINANCIAL STATEMENTS AND BANK CHARGES FOR PERSONAL, CURRENT ACCOUNTS AND OTHER SERVICES
Further to CB Circular No. 01 of 1998 and CB Circular No. 04 of 2000, please be informed that the due dates for submission of Prudential Returns, Quarterly Financial Statements, Quarterly Credit Market Monitoring and the Quarterly Bank Charges for Personal, Current Accounts and other General Services Returns for 2020 are as follows:
PRUDENTIAL RETURNS
| Month | Due Date |
|---|---|
| January | February 12, 2020 |
| February | March 13, 2020 |
| March | April 14, 2020 |
| April | May 13, 2020 |
| May | June 10, 2020 |
| June | July 13, 2020 |
| July | August 13, 2020 |
| August | September 10, 2020 |
| September | October 12, 2020 |
| October | November 11, 2020 |
| November | December 10, 2020 |
| December | January 13, 2021 |
...2/-
QUARTERLY FINANCIAL STATEMENTS AND BANK CHARGES
| Quarter | Due Date |
|---|---|
| 1st Quarter | April 14, 2020 |
| 2nd Quarter | July 13, 2020 |
| 3rd Quarter | October 12, 2020 |
| 4th Quarter | January 13, 2021 |
The Monthly Prudential Returns and Credit Market Monitoring Program (CMMP) Returns should be submitted through the Bank Supervision Application System via https://bsa.boz.zm/bsa while a soft copy of the Bank Charges Returns should be submitted to banksupervision@boz.zm.
A penalty of K500.00 per return per day will be charged for any delayed submissions or incorrect Prudential, CMMP and Bank Charges Returns.
In case of Quarterly Financial Statements, a penalty of K1,500.00 per return per day shall be incurred in any of the following circumstances and until the breach is corrected:
- Failure to submit the quarterly financial statements;
- Failure to obtain Bank of Zambia approval prior to publication;
- Publication of financial statements using incorrect formats; and
- Publication of incorrect information.
Francis Chipimo (PhD)
DEPUTY GOVERNOR – OPERATIONS
Bank Square, Cairo Road, P.O. Box 30080, Lusaka, Zambia
Tel: +260-211-399303, 399300
E-mail: dgo@boz.zm
Web: http://www.boz.zm
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