Regulatory Alerts1996-08-06
Added · Updated
Notice No. 012/GGBM/96 of 21 November - Standards and Procedures for the Exchange of Notes Unfit for Circulation
The Bank of Mozambique establishes standards for exchanging Metical notes unfit for circulation, defining them as torn, taped, altered, or significantly worn. Unfit notes retain full legal tender status and must be accepted for payments. The Bank mandates full valuation for notes retaining at least two-thirds of their surface with a serial number, and half valuation for fragments comprising at least half the surface with a serial number. Commercial banks and the public must organize cash deposits according to these valuation criteria.
Topics
monetary
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