Regulatory Alerts2015-05-04
Notice No. 03/GBM/2015 of 4 May – Regime for Access and Exercise of Banking Agent Activities
The Bank of Mozambique issued Notice No. 03/GBM/2015 to establish the regulatory framework for accessing and operating as a banking agent, thereby expanding financial service coverage, particularly in rural areas. The regulation defines eligible entities, outlines permissible activities such as cash deposits and transfers, and mandates strict liability, technology standards, and contractual obligations for contracting institutions. It further establishes evaluation criteria, non-exclusive contracting rules, public information duties, and sanction mechanisms to ensure operational integrity and consumer protection.
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