Regulatory Alerts2022-01-01
Bank of Zambia Circular No. 17/2022: 2023 Calendar for Monthly Money Receipts and Remittances Returns under the e-BoP Framework
The Bank of Zambia issued Circular No. 17/2022 to establish the submission calendar for Monthly Money Receipts and Remittances Returns (MRRR) under its electronic Balance of Payments Monitoring framework for 2023. Commercial banks must electronically submit completed MRRRs by the eighth or ninth day of each following month, alongside daily transactions due within two business days. Non-compliant, late, or incomplete submissions will incur a daily penalty of K500 until the breach is rectified.
[Logo: Bank of Zambia]
Bank of Zambia OFFICE OF THE DEPUTY GOVERNOR - OPERATIONS
BOZ/EXEC/DGO/econ/mrrr/am
December 12, 2022
CB Circular No. : 17/2022
To : All Heads of Commercial Banks
CALENDAR FOR SUBMISSION OF MONTHLY MONEY RECEIPT AND REMITTANCE RETURNS UNDER THE ELECTRONIC BALANCE OF PAYMENTS MONITORING FRAMEWORK
Further to Circular No. 09/2019 of October 23, 2019, please be informed that the due dates for the submission of duly completed Monthly Money Receipts and Remittances Returns (MRRR) under the Electronic Balance of Payment Monitoring (e-BoP) Framework to Bank of Zambia for 2023 are as follows:
| 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 |
The MRRR should be submitted to the Bank of Zambia electronically using the e-BoP Monitoring Module by the set due dates while daily Money Receipts and Remittances Transactions should be submitted by the close of business (T+2). Failure to comply with this requirement will attract a penalty of K500 per day for delayed submissions, incorrect or incomplete return until the breach is corrected.
Kindly be advised accordingly.
[Signature]
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