Regulatory Alerts2022-07-14
Notice No. 4/GBM/2022 of July 14 Establishing Information Provision Rules for Resolution Plans
The Bank of Mozambique issued Notice No. 4/GBM/2022 and amended Notice No. 3/GBM/2022 to establish information provision rules for resolution plans and extend authorized repayment periods beyond two years for imported goods and services. The regulations mandate banks, microbanks, and brokerage companies to submit annual informational elements by July 31 (referencing June 30), subject to a 45-day regulatory review window, a 60-day revision period, and a partial exemption mechanism valid for three years upon timely application. Compliance requires specific documentation tailored to individual and corporate importers, with violations punishable under prevailing foreign exchange and financial legislation upon publication.
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