Regulatory Alerts2018-09-19
Notice No. 7/GBM/2018 of September 19 – Complementary Rules and Procedures for the Special Exchange Regime for Oil and Gas Operations
The Bank of Mozambique issued Notice No. 7/GBM/2018 to establish complementary rules and procedures for the special exchange regime governing oil and gas operations. The regulation mandates prior authorization, detailed annual financing plans, and cash pooling mechanisms for concessionaires and special purpose entities when securing external credit or financing related non-resident companies. It further outlines foreign direct investment registration, mandatory national currency payments for resident beneficiaries, and sanctions including potential suspension of financing systems for recurrent compliance failures.
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