Regulatory Alerts2016-12-14
Notice No. 4/GBM/2016, of December 14 – Sets the License Application Processing Fee and the Annual Credit Information Center License Fee
Banco de Moçambique issued Notice No. 4/GBM/2016 and Notice No. 5/GBM/2016 to establish fixed licensing fees of 20,000.00 MT and 25,000.00 MT respectively for Credit Information Centers, while mandating periodic submission of detailed operational, compliance, and financial reports to ensure ongoing prudential supervision. The notices further revoke the operating authorization of Nosso Banco, SA due to deteriorating financial indicators and failed recovery plans, ordering its dissolution and liquidation under Deloitte & Touche (Moçambique) Lda. as liquidation committee president. Credit Information Centers must comply with immediate fee payments, structured reporting schedules ranging from monthly to annual, and strict data security protocols to maintain their licenses under the Private Management Credit Information System Law.