RegAlertRule · BOZ · 14 Dec 2022
Circular 18/2022: Calendar for Submission of Payment Systems Returns for 2023
The Bank of Zambia issued Circular 18/2022 to establish the mandatory submission calendar for payment systems returns for the 2023 financial year. The directive specifies exact due dates for monthly and quarterly returns, sets a March 31, 2023 deadline for ZIPSS annual audit certificates, and requires audited financial statements within three months of each institution's fiscal year-end. All filings must be submitted through the Digital Financial Services portal by the stipulated deadlines, with a daily penalty of K500 imposed for late or non-compliant submissions.
Bank of Zambia
OFFICE OF THE DEPUTY GOVERNOR - OPERATIONS
BOZ/EXEC/DGO/psd/rtns23/am
December 14, 2022
CB Circular No. : 18/2022
To : All Heads of Commercial Banks and Designated Payment Systems Entities
CALENDAR FOR SUBMISSION OF PAYMENT SYSTEMS RETURNS FOR THE YEAR 2023
Kindly be informed that the due dates for submission of Payment Systems Returns for the 2023 financial year are as follows:
1. MONTHLY RETURNS
| Month | DUE DATE |
|---|---|
| January | February 8, 2023 |
| February | March 9, 2023 |
| March | April 12, 2023 |
| April | May 9, 2023 |
| May | June 8, 2023 |
| June | July 12, 2023 |
| July | August 9, 2023 |
| August | September 8, 2023 |
| September | October 9, 2023 |
| October | November 8, 2023 |
| November | December 8, 2023 |
| December | January 9, 2024 |
2. QUARTERLY RETURNS
| Quarter | DUE DATE |
|---|---|
| 1st Quarter | April 12, 2023 |
| 2nd Quarter | July 12, 2023 |
| 3rd Quarter | October 9, 2023 |
| 4th Quarter | January 9, 2024 |
3. ANNUAL ATTESTATION FOR ZIPSS
The Annual Audit Certificates for ZIPSS annual attestation should be submitted by 31 March 2023 for the preceding year (2022).
...2/-
Circular No. 18/2022 - 2 - December 12, 2022
4. 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.
5. 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 (DFS) 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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