Regulatory Alerts2018-02-01
Notice No. 1/GBM/2018, February 1 – Regulation on the Use of Intelligent Note Neutralization Systems for the Metical
The Bank of Mozambique issued Notice No. 1/GBM/2018 to regulate intelligent note neutralization systems in ATMs and transport bags, mandating minimum security standards including 100% staining capacity, traceable non-toxic inks, and prior institutional authorization. The regulation establishes that activated stained notes are unfit for circulation, requires institutions to retain and report them within 48 hours, and outlines a formal exchange process where the Bank reimburses holders at a fixed commission of 4.00 MT per note following technical verification. By defining clear operational rules, documentation requirements, and financial settlements, the notice ensures robust theft prevention while maintaining public confidence in Metical currency handling.