Regulatory Alerts2026-02-27
Notice No. 1/GBM/2026 – Establishes the Mozambique Instant Payment System and Approves Its Regulation
The Bank of Mozambique issued Notice No. 1/GBM/2026 to establish the Mozambique Instant Payment System (SPIM) and approve its governing regulation, mandating immediate digital fund transfers aligned with international standards. The regulation defines SPIM's operational framework under the Mozambique Interbank Society (SIMO), outlines direct and indirect participation requirements for credit institutions, electronic money institutions, and payment service providers, and establishes mandatory transaction limits, fraud mitigation protocols, and a 24/7 operating schedule. Furthermore, it details participant suspension and exclusion procedures, complaint handling mechanisms, fee exemptions for individual interbank transactions, and sets a 25-second maximum fund availability period effective March 2, 2026.