Regulatory Alerts2021-12-23
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Circular 18/2021: Calendar for Submission of Payment Systems Returns for 2022
The Bank of Zambia has issued Circular 18/2021 to establish the mandatory submission deadlines for monthly, quarterly, and annual audited financial statements for payment systems returns during the 2022 financial year. All returns must be filed through the Digital Financial Services Data Platform by the specified due dates, with annual statements due within three calendar months after the financial year ends. Non-compliance triggers a daily penalty of K500.00 per return until the breach is corrected, and institutions are directed to contact the Payment Systems Department for guidance.
BANK of ZAMBIA
OFFICE OF THE DEPUTY GOVERNOR - OPERATIONS
BOZ/EXEC/DGO/psd/bp
December 23, 2021
CB Circular No. : 18/2021
To : All Heads of Commercial Banks and Designated Payment Systems Entities
CALENDAR FOR SUBMISSION OF PAYMENT SYSTEMS RETURNS FOR THE YEAR 2022
Kindly be informed that the due dates for submission of Payment Systems Returns for the 2022 financial year are as follows:
1. MONTHLY RETURNS
| Month | DUE DATE |
|---|---|
| January | February 8, 2022 |
| February | March 9, 2022 |
| March | April 8, 2022 |
| April | May 10, 2022 |
| May | June 8, 2022 |
| June | July 12, 2022 |
| July | August 9, 2022 |
| August | September 8, 2022 |
| September | October 10, 2022 |
| October | November 8, 2022 |
| November | December 8, 2022 |
| December | January 10, 2023 |
2. QUARTERLY RETURNS
| Quarter | DUE DATE |
|---|---|
| 1st Quarter | April 8, 2022 |
| 2nd Quarter | July 12, 2022 |
| 3rd Quarter | October 10, 2022 |
| 4th Quarter | January 10, 2023 |
All the returns should be submitted in a prescribed format by the set due dates as failure to comply may attract penalties. A penalty of K500.00 (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 Data Platform 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 and guidance on returns.
...2/-
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
CB Circular No. 18/2021 - 2 - December 23, 2021
3. 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.
Kindly be informed accordingly.
Francis Chipimo (PhD)
DEPUTY GOVERNOR – OPERATIONS
cc
Governor
Deputy Governor – Administration
Director – Banking and Currency
Director – Payment Systems
Director – Bank Supervision
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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