Regulatory Alerts2024-09-04
Notice No. 11/GBM/2024, of August 30 – Establishes the Minimum Share Capital of Mutual Guarantee Companies and Management Companies of Mutual Guarantee Funds
The Bank of Mozambique issued Notice No. 10/GBM/2024 to approve comprehensive Guidelines on Money Laundering, Terrorism Financing, and Proliferation Financing (ML/TF/PF) for all supervised financial institutions. The regulation mandates the establishment of robust risk management policies, the appointment of a dedicated Suspicious Transaction Reporting Officer (STRO), and strict internal audit and confidentiality procedures. It further enforces rigorous client identification, risk classification, outsourcing standards, and group coordination to ensure full regulatory compliance and effective mitigation of financial crime risks.
Share