Regulatory Alerts2023-11-21
Circular No. 02/OEF/2023: Procedures for the Mozambique Electronic Clearing System
The Bank of Mozambique issued Circular No. 02/OEF/2023 to establish operational procedures, participant duties, and security standards for the Mozambique Electronic Clearing System (CEL). The regulation mandates that all participants implement Straight Through Processing (STP), maintain specific operational and technical capabilities, and adhere to strict protocols for transaction monitoring, fraud reporting, and data integrity. It further defines the Bank's role as system operator, outlines criteria for participation and suspension, and details responsibilities for payment corrections and document retention.
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