Regulatory Alerts2024-12-30
Notice No. 12/GBM/2024, December 30 – Regulation of the Credit Registry Central
The Bank of Mozambique issued Notice No. 12/GBM/2024 to approve and modernize the Regulation of the Credit Registry Central, replacing the 2003 framework to align with current credit market conditions. The regulation mandates all supervised credit-granting entities to report loan data within twenty-four hours, establishes strict confidentiality and access rules for participants and beneficiaries, and defines clear procedures for information updates, corrections, and dispute resolution. It further stipulates a ten-year retention period for reported data, imposes penalties for non-compliance, and grants the Bank of Mozambique authority to standardize reporting models through circulars.
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