Regulatory Alerts2024-04-01
Notice No. 7/GBM/2024 of 1 April – Establishes the Transactional Limits Applicable to E-Money Institutions
The Bank of Mozambique issued Notice No. 7/GBM/2024 establishing mandatory transactional limits for e-money institutions to strengthen anti-money laundering and counter-terrorist financing compliance, requiring customer risk classification into three levels with specific account balance and transfer caps in Meticais. Concurrently, the Ministry of Sea, Inland Waters and Fisheries issued an Order approving the Norms for the National Sea Council (NSC), which defines its composition, operational procedures, decision-making quorums, and secretariat functions to implement Decree No. 67/2021. Both regulatory instruments entered into force upon publication or within thirty days, respectively, and are published in Series I, Number 64 of the Boletim da República.