Regulatory Alerts2014-06-04
Notice No. 1/GBM/2014 of June 4 Approving the Bank Card Regulation
The Bank of Mozambique issued Notice No. 1/GBM/2014 to approve the Bank Card Regulation, establishing the comprehensive legal framework for the issuance, use, and security of domestic and international bank cards. The regulation mandates strict contractual transparency, prohibiting abusive clauses and practices while imposing detailed information, customer service, and operational regularization duties on issuing entities. It further defines specific obligations for credit, debit, and prepaid cards, including credit limit controls, statement requirements, and procedures for handling fraud, loss, or unauthorized transactions.
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