Regulatory Alerts2015-12-31
Notice No. 11/GBM/2015, of December 31 – Establishes Limits for Payments Abroad Using International Bank Cards
The Bank of Mozambique and the Supreme Court issued these regulations on December 31, 2015, to establish operational limits for foreign payments using international bank cards and to classify specific district courts as Class 1 or 2. The Bank's Notice No. 7/GBM/2015 approves a comprehensive framework for repurchase and reverse repurchase operations of fixed-income securities, defining eligible instruments, access conditions, pricing formulas, financial settlement procedures via Meticalnet, and strict operational limits based on own funds. Furthermore, it mandates compliance reporting, outlines infractions with suspension sanctions of at least six months, and amends existing interbank money market regulations to integrate Treasury Bonds as eligible collateral.