Regulatory Alerts2023-11-21
Circular No. 01/OEF/2023, November 21 – Procedures for the Interbank Transfer and Settlement System
The Central Bank of Mozambique issued Circular No. 01/OEF/2023 to establish the operational procedures, participant obligations, and security standards for its Real-Time Gross Settlement (RTGS) system. The regulation mandates that participating financial institutions meet specific operational, technical, and financial capacity criteria while ensuring straight-through processing, intraday liquidity management, and robust contingency measures. It further defines the Bank's dual role as system operator and manager, outlines participant suspension or exclusion protocols, and establishes clear liability frameworks for payment instructions, fraud, and data confidentiality.
Share