Regulatory Alerts1992-10-26
Added · Updated
Decree No. 34/92, of October 26, Approving the Regulation of Law No. 28/91, of December 31, on Credit Institutions
This document approves the Regulation of Law No. 28/91, of December 31, for credit institutions in Mozambique, detailing requirements for their incorporation and operation. It mandates a 5% prior deposit of share capital for new institutions and sets a 90-day deadline for certain application certificates. The regulation also establishes liquidity and solvency rules for commercial banks, including a 15% limit on specific cash availabilities, and outlines financing sources for investment banks. Fines for non-compliance with Law No. 28/91 range from 5,000,000.00 MT to 100,000,000.00 MT, with a 1% fee on relevant transaction values for each transgressor.
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