Regulatory Alerts2017-12-27
Notice No. 20/GBM/2017, of December 27 - Establishes the Rules and Procedures to be Observed in Foreign Exchange Transactions
The Bank of Mozambique issued Notice 20/GBM/2017 to establish the rules and procedures governing foreign exchange transactions in response to increased cross-border financial flows and recent currency pressures. The regulation applies to all domestic and foreign investors, authorized entities, and regulatory bodies involved in cross-border transactions, mandating compliance with updated monitoring and authorization mechanisms. It defines key terms such as foreign exchange rate arbitration, the Bank of Mozambique as the competent authority, and the Foreign Exchange Authorization Bulletin to ensure flexible yet effective regulatory oversight.
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