Regulatory Alerts1997-07-29
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Publication of Monthly Financial Statements
The Bank of Zambia mandates all commercial banks to commence publishing quarterly financial statements by 31 July 1997, as required under Section 61(4) of the Banking and Financial Services Act, 1994. The regulator warns that failure to publish or the submission of inaccurate statements will incur penalties under Section 128 of the same Act. Additionally, the circular amends the income and expenses reporting format by requiring all non-interest expense sub-items to be consolidated under a single "non-interest expenses" heading in the attached schedule.
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