Regulatory Alerts2023-12-11
Notice No. 7/GBM/2023, of December 11 - Determines the Prudential Rules for Exchange Houses
The Bank of Mozambique issued Notice No. 7/GBM/2023 and Notice No. 8/GBM/2023 to establish comprehensive prudential rules for exchange houses and financial leasing companies, respectively. The notices mandate continuous compliance with specific own funds composition, foreign exchange position limits, and daily or monthly reporting via the Bank Supervision Application. Non-compliance triggers sanctions under existing credit institution laws, while Notice 7 explicitly revokes the prior 1995 exchange house limit notice and takes effect upon publication.
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