Regulatory Alerts2022-10-03
Circular No. 05/EFI/2022, October 3 - Procedures for Late Payment of Invoices Related to the Import of Goods and Services
The Bank of Mozambique issued Circular No. 05/EFI/2022 to establish specific procedures for the late payment of invoices related to the import of goods and services. The directive mandates intermediary banks to verify documentation and process payments through designated electronic platforms or stamped records, while requiring weekly electronic submissions of prior-week payment data via the Bank Supervision Application. Furthermore, banks must identify and submit a detailed repayment schedule for all importer invoices with payments pending over two years within 30 days of the circular's effective date.
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