Circular No. 06/EES/2011 of 8 July - Table of Classification of Foreign Exchange Operations

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--- Bank of Mozambique --- Administration

ECONOMIC STUDIES AND FOREIGN EXCHANGE

CIRCULAR NO. 06/EES/2011

Maputo, 08 July 2011

SUBJECT: Table of Classification of Foreign Exchange Operations

As it is necessary to establish a table of classification for foreign exchange operations consistent with the new foreign exchange regime, the Bank of Mozambique, in alignment with best practices, notably the Balance of Payments Manual used internationally, under paragraph 2 of Article 4 and paragraph 2 of Article 130, both of the Regulation of the Foreign Exchange Law approved by Decree No. 83/2010 of 31 December, determines:

1. The Table of Classification of Foreign Exchange Operations is established, contained in Annex 1 to this Circular and forming an integral part thereof, indicating the respective computerized codes and definitions of the classificatory categories and subcategories, as well as the detailed classification of operations, for the purposes of coding them in the foreign exchange register, compiling the balance of payments, and carrying out analyses, studies, and related activities;

2. The Table of Classification of Foreign Exchange Operations applies to all foreign exchange operations provided for in the Foreign Exchange Law and its Regulation;

3. The classification of foreign exchange operations is the responsibility of institutions authorized to conduct foreign exchange trading, and must be carried out in strict accordance with the provisions established in the Table of Classification of Foreign Exchange Operations, taking into account the nature and purpose of the operation;

4. In exercising the duty referred to in the preceding paragraph, entities authorized to conduct foreign exchange trading must observe the Explanatory Notes to the Table of Classification of Foreign Exchange Operations, contained in Annex 2 to this Circular, which are made available to other interested parties and the general public on the Bank of Mozambique's website: www.bancomoc.mz;

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--- Bank of Mozambique --- Administration

5. This Circular enters into force on 11 July 2011, revoking all provisions to the contrary;

6. Doubts arising from the interpretation and application of this Circular must be submitted to the Foreign Exchange Department of the Bank of Mozambique.

Maputo, 08 July 2011

BANK OF MOZAMBIQUE Waldemar Fernando de Sousa ADMINISTRATOR

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