Regulatory Alerts2018-03-22
Notice No. 02/GBM/2018 of March 22 - Code of Conduct for Credit Institutions and Financial Companies
The Bank of Mozambique issued Notice No. 02/GBM/2018 mandating a mandatory Code of Conduct for all credit institutions and financial companies operating in the country. The regulation establishes strict operational principles, including transparency, non-discrimination, responsible lending criteria, and robust data protection measures to safeguard financial consumers. It further mandates standardized pre-contractual disclosures, prohibits abusive clauses and practices, and requires dedicated internal complaint resolution units with strict timelines for conflict management.
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