Regulatory Alerts2018-10-16
Notice No. 8/GBM/2018, of October 16 - Conditions for the Conversion of Export Revenues from Goods and Services, Foreign Investment Income, and Other Funds Received from Abroad
The Bank of Mozambique issued Notice No. 8/GBM/2018 to establish the conversion conditions for export revenues from goods and services, foreign investment income, and other funds received from abroad. The regulation mandates that all conversions be executed at the bank's purchasing exchange rate in force on the transaction date, applying to all foreign currency funds and participants under the Foreign Exchange Law. Compliance is enforced through existing sanction provisions, with interpretative disputes submitted to the Bank's Licensing and Foreign Exchange Control Department.
Share