Regulatory Alerts2023-12-29
Notice No. 9/GBM/2023, Dated December 29 – Regulation of the Interbank Transfer and Settlement System
The Bank of Mozambique issued Notice No. 9/GBM/2023 and Notice No. 10/GBM/2023 on December 29, 2023, approving the Regulations for the Interbank Transfer and Settlement System and the Electronic Clearing System, respectively. These regulations establish operational frameworks, participation requirements, settlement mechanisms, and contingency procedures for direct and indirect participants, including credit institutions and authorized entities. Concurrently, the Council of Ministers promulgated Decrees No. 86/2023 and No. 87/2023 to revise inspection norms for higher education institutions and amend licensing obligations for private employment agencies, thereby aligning domestic financial and educational regulatory frameworks with current market dynamics and international best practices.