Regulatory Alerts2017-12-19
Notice No. 19/GBM/2017, of December 11 – Amendment to Notice No. 13/GBM/2017, of June 9 – Regime of Commissions and Charges Relating to Financial Services and Respective Nomenclature
The Bank of Mozambique issued Notice No. 19/GBM/2017 to amend Article 7 of its June 2017 directive, updating the free financial services regime and adjusting transaction frequencies for balance inquiries, ATM/POS printouts, withdrawals, electronic transfers, and PIN changes. Credit institutions and financial companies must align their commission nomenclatures and IT platforms with these mandatory provisions, with the compliance deadline extended to March 30, 2018. The notice takes effect upon publication and mandates that any interpretive disputes be resolved by the Bank’s Payments Systems Department.
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