Regulatory Alerts2018-05-25
Circular No. 01/EFI/2018 of May 25 - Form Models for Operationalizing Foreign Exchange Operations
The Bank of Mozambique issued Circular No. 01/EFI/2018 to mandate the use of standardized form models for all foreign exchange operations conducted by commercial banks. This directive requires banks to ensure their clients complete the appropriate forms to fulfill foreign exchange registration and verification obligations under Articles 6 and 9 of the Foreign Exchange Law. The circular takes immediate effect, supersedes conflicting provisions, and directs any interpretive queries to the Bank's Licensing and Foreign Exchange Control Department.
Bank of Mozambique Administration
FINANCIAL STABILITY DEPARTMENT
CIRCULAR NO. 01/EFI/2018
Maputo, May 25, 2018
SUBJECT: Form Models for Operationalizing Foreign Exchange Operations
Notice No. 20/GBM/2017 of December 27, which establishes the rules and procedures to be observed in carrying out foreign exchange operations, delegates to banks the responsibility for carrying out certain foreign exchange operations, the request for which requires the use, by their clients, of a form corresponding to the operation to be carried out, in order to comply with the foreign exchange registration and verification duties imposed under Articles 6, 9 and following, which contributes to the proper qualification, registration, and intermediation of the aforementioned operations.
Therefore, in exercise of the competence attributed to it by Article 5 of Decree No. 49/2017 of September 11, Foreign Exchange Law Regulations, the Bank of Mozambique determines:
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The form models, attached hereto, are established, which form an integral part of this Circular.
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This Circular enters into force immediately, revoking all provisions to the contrary.
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Any doubts arising from the interpretation and application of this Circular must be submitted to the Licensing and Foreign Exchange Control Department of the Bank of Mozambique.
[Signature] Gertrudes Tovela (Administrator)
Bank of Mozambique Promoting Financial Inclusion and the Value of the Metical Promoting Financial Inclusion and the Value of Metical
RESIDENT ENTITY REGISTRATION FORM
1st Registration ________ 2nd Amendment ________ 3rd Others ________
DATA OF THE RESIDENT ENTITY/CONTRACTING PARTY/BOROWER
NUIT ________________ Number assigned by BM (for cases of registration amendment) ____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________......