Regulatory Alerts2007-12-01
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Notice No. 10/GBM/2007 of May 25 - Extension of Financial Services to Rural Areas
The Bank of Mozambique establishes a special regime for banks and microfinance institutions opening branches in rural areas, defined as locations lacking a bank branch within a 30-kilometer radius. Eligible institutions may include branch cash in mandatory reserve calculations and are exempt from the tax base for mandatory reserves on loan resources. The regime is valid for five years from the date of publication and requires applicants to submit detailed investment lists and applications for additional fiscal or customs benefits.
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