Regulatory Alerts2024-01-03
Added · Updated
Circular No. 01/EFI/2024, of January 3 - Analytical Framework for Risk-Based Supervision
The Bank of Mozambique issued Circular No. 01/EFI/2024 to replace the 2013 framework and mandate a comprehensive, risk-based supervisory methodology for all supervised credit institutions and financial companies. The circular establishes a dynamic, proportional oversight model comprising off-site monitoring, targeted on-site inspections, and a structured risk assessment process (PARS) that utilizes CAMELS ratings and institutional profiles to allocate supervisory resources efficiently. It further standardizes inspection procedures, working paper documentation, and continuous follow-up mechanisms to ensure timely remediation of prudential and anti-money laundering/terrorism financing deficiencies.
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