Regulatory Alerts2018-03-22
Notice No. 4/GBM/2018, of March 22 – Conditions for the Movement of the Specific Export Revenue Account
The Bank of Mozambique issued Notice No. 4/GBM/2018 to establish the rules and procedures governing the movement of specific revenue accounts for exports, services, and investment income, as well as other foreign currency accounts. The regulation mandates that these accounts may be freely operated on credit or debit through legally permitted means, with internal transfers restricted to specific cases such as foreign currency credit repayment, funding for external payments, time deposits, and account closure. Furthermore, it clarifies that entities importing capital must convert funds at the receiving bank's exchange rate and subjects violations to sanctions under the Exchange Law, while revoking a prior provision from Notice No. 20/GBM/2017.