Circular No. 01/EFI/2020, of March 23 - Procedures for Sending Information on Foreign Exchange Operations

Bank of Mozambique
Administration

CIRCULAR NO. 01/EFI/2020
MAPUTO, MARCH 23, 2020

SUBJECT: PROCEDURES FOR SENDING INFORMATION ON FOREIGN EXCHANGE OPERATIONS.

To ensure full compliance with the reporting obligation for foreign exchange operations carried out by authorized entities, it is necessary to issue instructions regarding the type of information, frequency, submission mechanism, and format for reporting operations subject to this obligation.

Accordingly, pursuant to the combined provisions of paragraph 3 of Article 4 of Law No. 11/2009 of March 11 (Foreign Exchange Law) and paragraph 1 of Article 10 of Notice No. 20/GBM/2017 of December 27, which approves the Foreign Exchange Standards and Procedures, the Bank of Mozambique directs:

1. Information regarding the operations listed in the table below must be submitted under the following terms:

No.	Nature of Information	Frequency	Submission Mechanism	Submission Format
1.	Copies of transaction forms related to foreign investment records up to USD 250,000.00 (United States Dollars), including the cover letter and copies of the documents indicated in paragraphs 3 and 4 of Article 70 of Notice No. 20/GBM/2017 of December 27	Monthly	Physical format or via email.	Copy of the correspondence or in microfilming format (scan)
2.	Foreign Investment Operations up to USD 250,000.00 (United States Dollars)	Monthly	Bank Supervision Application (BSA)	Annex Map A
3.	Fund transfer operations carried out through money or value transfer services (Money or Value Transfer Services – MVTS)	Daily	Bank Supervision Application (BSA)	Annex Map B
4.	Payment operations carried out using bank cards issued by national banks on terminals (ATM and/or POS) of foreign banks.	Daily	Bank Supervision Application (BSA)	Annex Map C
5.	Receipt operations carried out using bank cards issued by foreign banks on terminals (ATM or POS) of national banks	Daily	Bank Supervision Application (BSA)	Annex Map D
6.	Movements in foreign currency accounts	Daily	Bank Supervision Application (BSA)	Annex Map E
7.	Balances of foreign currency accounts	Monthly	Bank Supervision Application (BSA)	Annex Map F
8.	Information on the degree of compliance with deadlines for submitting supporting documents for advance payments	Monthly	Bank Supervision Application (BSA)	Annex Map G
9.	Amortization Plan - External Private Loan registered by the bank	Whenever an external loan is registered in MeticalNet	Email	Annex Map H

2. The submission of the information described in items 1 and 9 in the table above must be sent to the email address dlc_mail@bancomoc.mz with the following indication in the respective subject field, namely:
   (i) Foreign Investment up to USD 250,000.00 (United States Dollars); (ii) Amortization Plan for External Private Loans.

3. Information reported via the computer applications, MeticalNet and Bank Supervision Application (BSA), specifically daily frequency information, must be available by 12:00 hours on the following day, and monthly frequency information must be available by the 05 (fifth) day of the following month.

4. In cases where no operations were recorded during a specific reporting period, the corresponding map must be inserted or sent to the Bank Supervision Application (BSA) with only the header filled out.

5. Reports that must be submitted via MeticalNet, if not submitted within the deadline, will be considered as indicating that no operations were carried out during the referenced period.

6. For foreign exchange operations whose reporting in MeticalNet requires submission via file and manual channel, both must bear the same date.

7. In the event of a submission error for the information of all or some foreign exchange operations during the file reporting process (payments and receipts) via MeticalNet, the operations must be sent to the Bank of Mozambique in Microsoft Excel format to the email address dlc_mail@bancomoc.mz, in accordance with the deadline established in paragraph 3 of this Circular.

8. This Circular enters into force on March 16, 2020.

Any doubts arising from the interpretation and application of this Circular must be submitted to the Licensing and Foreign Exchange Control Department of the Bank of Mozambique via the email address dlc_mail@bancomoc.mz.

BANK OF MOZAMBIQUE
Financial Stability Division
Gertrudes Tovela
Administrator