Regulatory Alerts2003-12-01
Added · Updated
Notice No. 04/GGBM/2003 on Data Processing Centers of Credit Institutions and Financial Companies
The Bank of Mozambique mandates that Credit Institutions and Financial Companies must locate their primary Data Processing Centers within national territory and maintain replica facilities at least 15 kilometers away. These replica centers must possess similar equipment and ensure operational continuity, with any off-shore replicas requiring prior regulatory authorization. Non-compliant entities were required to transfer their Data Processing Centers to Mozambique by June 30, 2004.
NOTICE NO. 04/GGBM/2003 SUBJECT: DATA PROCESSING CENTERS OF CREDIT INSTITUTIONS AND FINANCIAL COMPANIES
In order to ensure the effective operation of Credit Institutions and Financial Companies (CICFCs) regarding information services and technologies, the Bank of Mozambique, pursuant to paragraph d) of paragraph 2 of Article 3, combined with paragraph d) of paragraph 2 of Article 37 of Law No. 01/92 of January 3, and Article 54 of Law No. 15/99 of November 1, determines:
Article 1
- CICFCs must have their Data Processing Centers (DPCs) located within national territory.
- CICFCs must possess information and communications technology service policies whose implementation ensures the continuity of banking activity even in the event of system failures.
Article 2 CICFCs must guarantee the quality of their information technology services to ensure the effective and regular operation of banking activity.
Article 3 CICFCs must be equipped with replica facilities for their DPCs for the purpose of data recovery in the event of failures or disasters.
Article 4 The facilities for DPC replicas must never be located at a distance less than 15 kilometers from the location of the main processing center.
Article 5
- Replica centers must be equipped with means similar to those of the DPCs; they may be installed within national territory or abroad, provided that the absence of legal conflicts is ensured and the time zone difference does not compromise the operation of CICFCs.
- In cases where replicas are installed outside the country, their activation by CICFCs requires prior authorization from the Bank of Mozambique.
Article 6 All CICFCs operating in Mozambique that are not yet in a position to comply with this Notice at the time of its publication must ensure the transfer of their DPC to national territory by June 30, 2004.
Article 7 This Notice enters into force on the date of its publication.
Article 8 Any doubts arising from the interpretation and application of this Notice must be submitted to the Banking Supervision Department of the Bank of Mozambique.
Maputo, August 14, 2003
Ernesto Gouveia Gove Vice-Governor