Regulatory Alerts1994-12-01
Added · Updated
Notice No. 015/GGBM/94 of 21 November - Limits on Shareholding in Other Companies
The Bank of Mozambique imposes limits on credit institutions' participation in the capital of other companies, prohibiting direct or indirect holdings exceeding 15% of own funds in a single entity or 60% in total qualified participations. Institutions are also barred from holding more than 25% of voting rights in any company and must report their shareholdings to the regulator within 30 days following each quarter-end. Non-compliant situations existing at the notice's entry into force must be regularized by December 31, 1995, while excesses resulting from own fund repayments must be corrected within two years.
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