Regulatory Alerts2020-05-19
Notice No. 5/GBM/2020, of May 19 – Regarding the Obligation to Capture and Send Geographic Coordinates of Financial Services Access Points
The Bank of Mozambique issued Notice No. 5/GBM/2020 to mandate the capture, validation, and electronic archiving of georeferenced coordinates for all financial services access points. Credit institutions and financial companies must utilize applications to collect these coordinates, submit them to the Geographic Information System platform within five days of implementation or relocation, and ensure existing points are fully registered within sixty days. Compliance is enforced through the sanctions regime of Law No. 15/99, with data verification performed by personnel independent of the reporting decision-making structure to guarantee accuracy and support national financial inclusion policy.
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