Regulatory Alerts2016-05-16
Decree No. 11/2016 of May 16 Approving the Regulation of Law No. 6/2015 of October 6
The Council of Ministers of Mozambique issued Decree No. 11/2016 to approve the Regulation of Law No. 6/2015, establishing comprehensive operational rules for Private Credit Management Information Systems. The regulation mandates licensing requirements, including a minimum share capital of 16 million meticais, detailed application procedures, and strict oversight by the Bank of Mozambique. It further defines subscriber and provider obligations, client rights to information and reports, cross-border data sharing protocols, and a contravention process with specified financial sanctions for non-compliance.
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