Regulatory Alerts1997-12-01
Added · Updated
Notice No. 05/GGBM/97 Determining Interest Rates Under Article 53 of Law No. 28/91
The Banco de Moçambique sets the Central Bank Annual Reference Rate at 23.5% for refinancing operations with financial institutions, including 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 fixation of a new limit. The notice was issued by Governor Adriano Afonso Maleiane on 21 April 1997.
BANCO DE MOÇAMBIQUE
NOTICE NO. 05/GGBM/97
Pursuant to the provisions of Article 53 of Law No. 28/91 of 31 December regarding interest rates, I determine:
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Central Bank Annual Reference Rate: 23.5% • Scope: Central Bank refinancing operations with financial institutions, namely 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 fixation of another limit.
Published.
Maputo, on 21 April 1997.
The Governor Adriano Afonso Maleiane