Regulatory Alerts2023-11-21
Added · Updated
Circular No. 01/OEF/2023, November 21 – Procedures for the Interbank Transfer and Settlement System
The Bank of Mozambique approves operational procedures for the Real-Time Gross Settlement (RTGS) system, defining the bank's roles as operator and manager, and establishing participation criteria including technical, financial, and legal requirements. The document mandates that participants maintain primary and secondary operations centers, implement Straight Through Processing, and adhere to strict security and contingency protocols. It outlines obligations for payment instruction integrity, fraud reporting, and user management, while detailing the creation and maintenance of reserve accounts and intraday credit facilities to ensure settlement finality.
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