Regulatory Alerts1997-12-01
Added · Updated
Notice No. 002/GGBM/97 Determining Interest Rates Under Article 53 of Law No. 28/91
The Governor of the Central Bank sets the annual reference rate at 24.75% for refinancing operations with financial institutions, specifically covering special credit lines for small and medium-sized enterprises, industrial rehabilitation, and agricultural marketing. This rate applies to existing operations if their contracts allow for alteration upon the legal establishment of a new limit. The notice becomes effective on 29 January 1997.
NOTICE NO. 002/GGBM/97
Pursuant to the provisions of Article 53 of Law No. 28/91 of 31 December on interest rates, I determine:
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Annual reference rate of the Central Bank: 24.75%. • Scope: Central Bank refinancing operations with financial institutions, specifically regarding special credit lines for the promotion of small and medium-sized enterprises, rehabilitation of industrial enterprises, and agricultural marketing.
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The interest rate regime hereby established may apply to operations in force on the date of entry into force of this NOTICE, when the respective contract provides for its alteration in the event of the legal establishment of another limit.
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This NOTICE takes effect from 29 January 1997.
Published.
Maputo, 27 January 1997.
The Governor Adriano Afonso Maleiane