Regulatory Alerts2015-11-26
Notice No. 10/GBM/2015 of November 26 – Interbank Foreign Exchange Market Regulation
The Bank of Mozambique issued Notice No. 10/GBM/2015 to establish the Interbank Foreign Exchange Market (MCI) regulation, mandating that all foreign currency transactions between authorized banks and the central bank occur electronically via the Meticalnet platform. The regulation defines strict membership criteria, operational hours, quotation procedures, and a tiered sanction framework for non-compliance, while standardizing USD as the primary transaction currency with a 50,000-dollar minimum threshold. Furthermore, it enforces daily statistical reporting, irreversible settlement through designated deposit accounts, and a best-price execution model to ensure market stability and transparency.
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