Regulatory Alerts2023-10-03
Decree No. 56/2023 of October 3 Approves the Regulation of Law No. 28/2022 of December 29 (Exchange Control Law) and Revokes Decree No. 49/2017 of September 11
The Council of Ministers of Mozambique issued Decree No. 56/2023 to establish the rules, procedures, and fee structures for partial foreign exchange trade conducted by payment service providers. The decree delineates authorization and renewal fees, mandates annual payments by March 31, and grants the Bank of Mozambique authority to cancel licenses for non-compliance or prolonged inactivity. It further allocates 70% of contravention fines to the State and 30% to the central bank, while repealing Decree No. 49/2017 and empowering the finance minister to update applicable rates.
Share