Regulatory Alerts2023-12-13
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Circular 05/2023: Calendar for Submission of Payment Systems Returns for 2024
The Bank of Zambia issues Circular 05/2023 to establish the official submission calendar and deadlines for payment systems returns for commercial banks and designated payment system entities throughout the 2024 financial year. The directive specifies precise due dates for daily, monthly, quarterly, and annual filings, including specialized reports for mobile money rewards and ZIPSS annual attestations. All returns must be submitted through the Digital Financial Services portal by the designated deadlines, with a K500 daily penalty enforced for late or non-compliant submissions.
Bank of Zambia
OFFICE OF THE DEPUTY GOVERNOR - OPERATIONS
BOZ/EXEC/DGO/psd/bp
December 13, 2023
PSB Circular No. : 05/2023
To : All Heads of Commercial Banks and Designated Payment System Entities
CALENDAR FOR SUBMISSION OF PAYMENT SYSTEMS RETURNS FOR THE YEAR 2024
Kindly be informed that the due dates for submission of Payment Systems Returns for the 2024 financial year are as follows:
1. DAILY RETURNS
Daily returns should be submitted by the close of the next business day.
2. MONTHLY RETURNS
| Month | DUE DATE |
|---|---|
| January | February 8, 2024 |
| February | March 11, 2024 |
| March | April 9, 2024 |
| April | May 9, 2024 |
| May | June 10, 2024 |
| June | July 10, 2024 |
| July | August 9, 2024 |
| August | September 9, 2024 |
| September | October 8, 2024 |
| October | November 8, 2024 |
| November | December 9, 2024 |
| December | January 9, 2025 |
3. QUARTERLY RETURNS
| Quarter | DUE DATE |
|---|---|
| 1st Quarter | April 9, 2024 |
| 2nd Quarter | July 10, 2024 |
| 3rd Quarter | October 8, 2024 |
| 4th Quarter | January 9, 2025 |
...2/-
PSB Circular No. 05/2023 - 2 - December 13, 2023
3.1. RETURN ON MOBILE MONEY REWARDS
| QUARTER | DUE DATE |
|---|---|
| 1st Quarter | April 19, 2024 |
| 2nd Quarter | July 22, 2024 |
| 3rd Quarter | October 21, 2024 |
| 4th Quarter | January 21, 2025 |
4. ANNUAL ATTESTATION FOR ZIPSS
The Annual Audit Certificates for ZIPSS annual attestation should be submitted by March 31, 2024, for the preceding year (2023).
5. AUDITED ANNUAL FINANCIAL STATEMENTS
The Annual Audited Financial Statements should be submitted within three calendar months after the end of the financial year of each respective institution.
6. COMPLIANCE TO THIS CIRCULAR
All the returns should be submitted in a prescribed format by the set dates as failure to comply may attract penalties. A penalty of K500 (Kwacha Five Hundred only) will be charged per return per day for any delayed submission or incorrect return until the breach is corrected. All submissions of payment system returns should be made through the Digital Financial Services portal by end of business on the due date. Further, you may contact the Payment Systems Department through psdreturns@boz.zm or DFSData@boz.zm for any queries or guidance pertaining to returns.
Kindly be informed accordingly.
Francis Chipimo (PhD)
DEPUTY GOVERNOR – OPERATIONS
cc
Governor
Deputy Governor – Administration
Director – Payment Systems
Director – Bank Supervision
Director – Banking and Currency
Director – Non-Bank Financial Institutions Supervision
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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