Regulatory Alerts1992-12-01
Added · Updated
Notice No. 003/GGBM/92 of November 9, 1992: Fixing Annual Interest Rates for Time Deposits
The Governor of the Bank of Mozambique fixes annual interest rates for time deposits at 43% for terms up to 365 days, 44% for 1 to 2 years, and 45% for more than 2 years. Commercial banks are authorized to remunerate demand deposits at an interest rate of up to 3% at their discretion. These rates apply to both new and existing deposits unless the depositor expressly objects, and the notice enters into force on November 10, 1992.
Topics
monetary
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