Regulatory Alerts2019-03-14
Notice No. 02/GBM/2019, January 18 – Interbank Clearing and Settlement Subsystem Regulation
The Bank of Mozambique issued Notice No. 02/GBM/2019 to replace the 2013 Interbank Clearing and Settlement Regulation, aligning it with international best practices. The regulation mandates that authorized credit institutions and the central bank participate in a centralized electronic clearing subsystem (CEL) using direct or indirect models, with strict technical, prudential, and operational requirements. It establishes definitive intraday settlement in current accounts, standardized physical exchange procedures, specific return reasons, and strict timelines for fund availability to final beneficiaries based on participant representation.
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