Regulatory Alerts2017-08-06
Notice No. 13/GBM/2017 of June 8 – Regime of Commissions and Charges on Financial Services and Respective Nomenclature
The Bank of Mozambique issued Notice No. 13/GBM/2017 to establish a unified regime for commissions and charges on financial services, mandating credit institutions and financial companies to adopt a common nomenclature and maintain simplified and complete price lists. The regulation defines an extensive list of free financial services for individuals and single-member companies, prohibits hidden or automated charges on ATMs and POS terminals, and strengthens transparency through strict information and advertising duties. Institutions must align their pricing structures, software configurations, and client communications within 90 days of publication to ensure predictable costs and foster competition in the financial system.
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