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2017-01-01

Circular No. 1/2017: Calendar for Submission of Returns

The Bank of Zambia has issued Circular No. 1/2017 to establish the submission deadlines and penalty framework for non-bank financial institutions and bureaux de change for 2018. The directive specifies monthly, quarterly, weekly, and annual due dates for prudential returns, financial statements, cost of borrowing demonstrations, and credit market monitoring programme reports. It mandates electronic submission through the Institutional Information Submission System or designated email, while imposing daily penalty fees ranging from K100 to K1,500 for late or non-compliant filings.

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Bank of Zambia OFFICE OF THE DEPUTY GOVERNOR - OPERATIONS

BOZ/EXEC/DGO/nbfis/bp

December 28, 2017

NB Circular No: : 01/2017

To : All Heads of Non-Bank Financial Institutions and Bureaux de Change

CALENDAR FOR SUBMISSION OF PRUDENTIAL RETURNS, QUARTERLY DEMONSTRATION OF THE COST OF BORROWING RETURN, QUARTERLY FINANCIAL STATEMENTS FOR PUBLICATION, AUDITED ANNUAL FINANCIAL STATEMENTS AND CREDIT MARKET MONITORING PROGRAMME RETURNS

Further to Circulars No. 01/98 and 04/00 dated January 21, 1998 and May 15, 2000 respectively, please be informed that the due dates for submission of Prudential Returns, Quarterly Demonstration of the Cost of Borrowing Return, Quarterly Financial Statements for publication and Credit Market Monitoring (CMMP) Returns for 2018 are as follows:

1. MONTHLY, QUARTERLY AND WEEKLY RETURNS

Monthly ReturnsDue Date
January12 February 2018
February14 March 2018
March12 April 2018
April11 May 2018
May12 June 2018
June13 July 2018
July13 August 2018
August12 September 2018
September11 October 2018
October12 November 2018
November12 December 2018
December11 January 2019

.....2/-

Bank Square, Cairo Road P.O. Box 30080, Lusaka, Zambia Tel: 260-211-226844, 228888 Fax:260-211-237070 E-mail:dgo@boz.zm Web: http://www.boz.zm

NB Circular No. 01/2017 - 2 - December 28, 2017

Quarterly Returns

1st Quarter12 April 2018
2nd Quarter13 July 2018
3rd Quarter11 October 2018
4th Quarter11 January 2019

Weekly Returns

The Weekly Bureau de Change Return shall be submitted on the Monday or first business day following the end of the week to which the return relates.

2. QUARTERLY FINANCIAL STATEMENTS FOR PUBLICATION

1st Quarter12 April 2018
2nd Quarter13 July 2018
3rd Quarter11 October 2018
4th Quarter11 January 2019

3. AUDITED ANNUAL FINANCIAL STATEMENTS

The Audited Annual Financial Statements should be submitted three calendar months after the end of the institution’s financial year in accordance with section 64(3) of the Banking and Financial Services Act.

4. QUARTERLY DEMONSTRATION OF THE COST OF BORROWING

1st Quarter12 April 2018
2nd Quarter13 July 2018
3rd Quarter11 October 2018
4th Quarter11 January 2019

5. CREDIT MARKET MONITORING PROGRAMME RETURNS

1st Quarter30 April 2018
2nd Quarter31 July 2018
3rd Quarter31 October 2018
4th Quarter31 January 2019

The Prudential Returns, Weekly Bureau de Change Returns and the CMMP Returns should be submitted through the Institutional Information Submission System (IISS) of the Bank Supervision Application (BSA) at https://bsa.boz.zm/bsav30, while softcopies of the Quarterly Financial Statements for publication and the Demonstration of the Cost of Borrowing Returns should be submitted to nbfisreturns@boz.zm.

.....3/

Bank Square, Cairo Road, P. O. Box 30080, Lusaka, Zambia Tel: +260-211- 226844/228888/9 Fax: +260-211-237070 Email: dgo@boz.zm. Web: http://www.boz.zm

NB Circular No. 01/2017 - 3 - December 28, 2017

A penalty of K500.00 per return per day will be charged for any incorrect or delayed submission of Prudential Returns, Quarterly Demonstration of the Cost of Borrowing Return and CMMP Returns while a penalty fee of K100.00 per return per day will be charged for any incorrect or delayed submission of Weekly Bureau de Change Return. A penalty of K500.00 per day will also be charged for delayed submission of Audited Annual Financial Statements. In the case of Quarterly Financial Statements for publication, a penalty of K1,500.00 per return per day shall apply in any of the following circumstances:

  • Failure to submit the quarterly financial statements;
  • Failure to obtain Bank of Zambia approval prior to publications;
  • Publication of financial statements using incorrect formats; and
  • Publication of incorrect information.

[Signature]

Bwalya K. E. Ng’andu (Dr) DEPUTY GOVERNOR – OPERATIONS

Bank Square, Cairo Road, P. O. Box 30080, Lusaka, Zambia Tel: +260-211- 226844/228888/9 Fax: +260-211-237070 Email: dgo@boz.zm. Web: http://www.boz.zm

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