Region

Jurisdiction

Regulator

2012-01-01

Bank of Zambia Circular 01/2012: Calendar for Submission of Prudential Returns

The Bank of Zambia issued Circular 01/2012 to establish the 2012 submission deadlines for prudential returns, quarterly financial statements, and bank charges returns for all commercial banks. The directive mandates that prudential returns be filed via the Risk Analysis Automation System while quarterly financial statements require prior regulatory approval and specific formatting. Strict penalties of K500,000 per day apply to delayed or incorrect prudential and bank charges returns, with a higher penalty of K1,500,000 per day imposed for failures related to quarterly financial statement submissions or publications.

Zambia

Bank of Zambia

# BANK OF ZAMBIA
## OFFICE OF THE DEPUTY GOVERNOR - OPERATIONS

January 4, 2012

**CB Circular No. 01/2012**

**To**: All Commercial Banks

## CALENDAR FOR SUBMISSION OF PRUDENTIAL RETURNS, QUARTERLY FINANCIAL STATEMENTS AND BANK CHARGES FOR PERSONAL, CURRENT ACCOUNTS AND OTHER GENERAL SERVICES

Further to Circular No.1/98 and 4/00 dated 21 January, 1998 and 15 May, 2000 respectively, please be informed that the due dates for submission of Prudential Returns, Quarterly Financial Statements and the Quarterly Bank Charges for Personal Current Accounts and Other General Services Return for 2012 are as follows:

### PRUDENTIAL RETURNS

| Month       | Due Date       |
|-------------|----------------|
| January     | 8 February 2012 |
| February    | 9 March 2012    |
| March       | 11 April 2012   |
| April       | 9 May 2012      |
| May         | 8 June 2012     |
| June        | 11 July 2012    |
| July        | 9 August 2012   |
| August      | 10 September 2012 |
| September   | 8 October 2012  |
| October     | 8 November 2012 |
| November    | 10 December 2012 |
| December    | 9 January 2013  |

### QUARTERLY FINANCIAL STATEMENTS AND BANK CHARGES

| Quarter     | Due Date       |
|-------------|----------------|
| 1st Quarter | 11 April 2012  |
| 2nd Quarter | 11 July 2012   |
| 3rd Quarter | 8 October 2012 |
| 4th Quarter | 9 January 2013 |

......2/-

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**CB Circular No. 01/2012** - 2 - **January 4, 2012**

The Prudential Returns should be submitted through the Risk Analysis Automation System (RAAS) of the Bank Supervision Application System, while a soft copy of the Bank Charges return should be submitted to **banksupervision@boz.zm**.

A penalty of K500,000 per return per day will be charged for any delayed submissions or incorrect Prudential and Bank charges Returns.

In the case of the Quarterly Financial Statements, a penalty of K1,500,000 per return per day shall be incurred in any of the following circumstances:

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

**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 E-mail: bngandu@boz.zm http://www.boz.zm