Regulatory Alerts2002-01-01
Bank of Zambia Circular 17/2002: Font Size for Quarterly Financial Statements
The Bank of Zambia mandates that all commercial banks publish their quarterly financial statements using a minimum font size of 14 and spanning at least half a newspaper page. This requirement, effective from September 2002, addresses previous readability issues to ensure the general public can accurately assess the financial condition and performance of banking institutions. Compliance with these formatting standards is strictly enforced to uphold the transparency and accessibility objectives of public financial reporting.
# BANK OF ZAMBIA
## OFFICE OF THE DEPUTY GOVERNOR – OPERATIONS
8 October 2002
CB Circular No. 17 /2002
To: All Commercial Banks
## FONT SIZE FOR THE PUBLICATION OF QUARTERLY FINANCIAL STATEMENTS
It has been observed that some banks have continued to publish their quarterly financial statements using a font size that makes the reading of the published financial statements difficult. The essence of publishing the financial statements is to afford the general public an opportunity to clearly assess the financial condition and performance of banks. The publication of quarterly financial statements in a font size that makes the reading of the financial statements difficult defeats the objective of having financial statements published.
With effect from September 2002, all banks must ensure that their quarterly financial statements are published using at least font size 14. The financial statements must be published on not less than one half page of the newspaper.
Dr Abraham Mvenda
DEPUTY GOVERNOR – OPERATIONS
---
Bank Square, Cairo Road, PO Box 30080, Lusaka 10101, Zambia Tel: 260-1-226844, Fax: 260-1-237070, email: amvenda@boz.zm
Share