Regulatory Alerts2015-04-22
Notice No. 01/GBM/2015 of April 22 - Rules and Criteria for the Opening and Closure of Bank Branches
The Bank of Mozambique issued Notice No. 1/GBM/2015 and Notice No. 2/GBM/2015 to establish the rules, criteria, and procedures for opening and closing bank branches across designated districts, while mandating their connection to the national single electronic payments network. The regulations require banks to adhere to a geographic proportionality criterion for branch expansions, prioritize locations in an official eligibility list, and submit annual or multi-annual expansion plans within thirty days of approval. Furthermore, the notices standardize branch relocation procedures, define sanctioning regimes for non-compliance, and set clear timelines and conditions for integrating internal operational management systems into the shared national payment infrastructure.