Regulatory Alerts2021-10-19
Notice No. 3/GBM/2021, of 19 October – Establishes the Regulatory Framework Applicable to the Activity of Investment Companies
The Bank of Mozambique issued this official gazette entry to revoke the operating authorization and order the liquidation of Compras em Grupo de Moçambique, S.A. due to prudential breaches, while simultaneously approving the updated Regulation of the Interbank Clearing and Settlement Subsystem to align with international best practices. The new clearing regulation establishes detailed participation requirements, electronic multilateral processing procedures, strict return reasons, and definitive intraday settlement rules for payment instruments. Additionally, the document initiates the regulatory framework for investment companies under the revised Credit Institutions and Financial Companies Law.
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