Regulatory Alerts2019-03-15
Notice No. 4/GBM/2019 of 29 January - Regulation of the Real-Time Gross Settlement Transfer Subsystem (MTR)
The Bank of Mozambique issued Notice No. 4/GBM/2019 to formally approve and regulate the Real-Time Gross Settlement Transfer Subsystem (MTR), establishing the comprehensive legal and operational framework for real-time payment processing in Mozambique. The regulation mandates that all eligible payment instructions be settled definitively and irrevocably upon execution, utilizing a chronological FIFO queue system enhanced by automated liquidity optimization and multiple blockage resolution mechanisms to maintain systemic stability. It further defines strict participant eligibility criteria, outlines suspension or exclusion procedures for non-compliant entities, and prescribes detailed contingency protocols and error correction measures to ensure continuous, transparent, and secure financial operations.