Regulatory Alerts2013-07-04
Added · Updated
Notice No. 10/GBM/2013 - Minimum Requirements for the Opening and Movement of Deposit Accounts at the Bank of Mozambique
The Bank of Mozambique establishes minimum requirements for the opening, movement, blocking, and closure of deposit accounts in national and foreign currency for credit institutions and authorized entities. The regulation mandates specific documentation for account opening, limits holders to one national currency account and one account per foreign currency denomination, and sets a four-day decision timeline for applications. It further defines blocking conditions for reserve non-compliance and outlines the sanctioning regime for violations under Law No. 15/99.
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