Notice No. 12/GBM/2024, December 30 – Regulation of the Credit Registry Central

SUMMARY
NOTICE
The matter to be published in the "Boletim da República" must be submitted as a duly authenticated copy, one for each subject matter, containing, in addition to the necessary indications for this purpose, the following endorsement, signed and authenticated: For publication in the "Boletim da República". NATIONAL PRESS OF MOZAMBIQUE, S.A. 8th SUPPLEMENT Bank of Mozambique:
Notice No. 12/GBM/2024:
Approves the Regulation of the Credit Registry Central and revokes Notice No. 7/GGBM/2003, of January 14, 2004.
Monday, December 30, 2024 SERIES I — Number 251 BANK OF MOZAMBIQUE Notice No. 12/GBM/2024 of December 30 Given the need to align the Regulation of the Credit Registry Central with the current credit market conditions, the Bank of Mozambique, in exercise of the powers conferred by paragraph e) of paragraph 2 of Article 37 of Law No. 1/92, of January 3, the Organic Law of the Bank of Mozambique, combined with Article 92 of Law No. 20/2020, of December 31, the Credit Institutions and Financial Companies Law, determines:
Art. 1. The Regulation of the Credit Registry Central, attached hereto, is approved and forms an integral part of this Notice.
Art. 2. Notice No. 7/GGBM/2003, of January 14, 2004, approving the Regulation of the Credit Registry Central, is hereby revoked.
Art. 3. This Notice enters into force 180 days after the date of publication.
Doubts regarding the interpretation and application of this Notice must be submitted to the Prudential Supervision Department of the Bank of Mozambique.
Maputo, December 19, 2024. – Governor, Rogério Lucas Zandamela.
Regulation of the Credit Registry Central
CHAPTER I
General Provisions
ARTICLE 1 (Subject Matter)
This Regulation establishes the rules regarding the operation of the Credit Registry Central, hereinafter referred to as CRC.
ARTICLE 2 (Scope of Application)
This Regulation applies to all entities subject to the supervision or monitoring of the Bank of Mozambique that grant credit or carry out activities directly related to credit.
ARTICLE 3 (Definitions)
The terms and expressions used in this Regulation are set out in the Glossary, attached hereto, which forms an integral part thereof.
ARTICLE 4 (Purposes)
The CRC is an information system with the following purposes:
a) centralize information on actual or potential credit liabilities with participating entities, arising from credit operations benefiting natural persons, legal entities, or equivalent parties, as borrowers, guarantors, or sureties; b) make reported information available to participating entities for risk assessment and determination of debt-bearing capacity in credit granting; and c) aggregate information for supervision and monitoring purposes, namely through the production of reports, analysis of financial system stability, statistical compilations, monetary policy, among others. Electronic Edition by Pandora Box, Ltd. 5334 — (762) SERIES I — NUMBER 2024
ARTICLE 5 (Place of Operation)
The CRC operates at the Bank of Mozambique.
CHAPTER II
Participants
ARTICLE 6 (Participating Entities)

1. The following are participating entities of the CRC:
   a) those subject to the supervision or monitoring of the Bank of Mozambique that grant credit or carry out activities directly related to credit; b) others that, upon request, are authorized by the Bank of Mozambique, provided they carry out activities justifying their participation; and c) the Bank of Mozambique, within the scope of its social policy.
2. The Bank of Mozambique may, considering the size and nature of the activity provided, upon express and justified request, exempt participants from the duties set forth in this Regulation.
   ARTICLE 7 (CRC Users)
3. CRC participating entities must notify the Bank of Mozambique, by letter signed by representative(s) with sufficient authority to bind them, of the identification of users of the information system.
4. The notification referred to in the preceding paragraph must be made within a maximum period of seven days, counting from the date of authorization for participation in the CRC or, in cases of substitution, from the date of effective change.
5. Newly established or newly registered entities must request authorization to participate in the CRC before commencing their activities, observing the provisions of paragraph 1 of this article.
6. Any change to the user profile must be communicated to the Bank of Mozambique within twenty-four hours, counting from its effective date.
   ARTICLE 8 (Covered Operations)
   The CRC covers information on credit operations, in any form or modality, carried out:
   a) by participating entities with natural persons, legal entities, or equivalent parties, domiciled in the country and abroad; b) among participating entities; and c) by participating entities and their employees, within the scope of their social policy.
   ARTICLE 9 (Excluded Operations)
   The following operations are excluded from the reporting duty to the CRC:
   a) extinguished credits, including those forgiven by participating entities, without prejudice to the provisions of paragraph 1 of Article 18 of this Regulation; and b) public debt securities in the portfolio of participating entities.
   ARTICLE 10 (Liability of Participants)
7. Information submitted to the CRC is entirely and exclusively the responsibility of participating entities, which must promote its updating or correction whenever necessary.
8. As a participating entity, the Bank of Mozambique bears only the responsibility described in the preceding paragraph.
   CHAPTER III
   Information Reporting
   ARTICLE 11 (Submission of information by participating entities)
9. Participating entities are obliged to submit information on credit operations to the CRC in a precise, complete, and timely manner, in a format adjusted to the characteristics and nature of each institution.
10. The Bank of Mozambique establishes, by Circular, the model for reporting information to the CRC.
11. Participating entities report to the CRC information on carried-out credit operations within twenty-four hours, counting from the date of disbursement, creation or renewal of the limit, establishment of collateral, or execution of the operation giving rise to the registrable liability.
    ARTICLE 12 (Interruption of communication with the CRC)
    When, for any reason, communication between participating entities and the CRC is interrupted for a period exceeding twenty-four hours, information must be sent according to procedures defined by Circular by the Bank of Mozambique.
    CHAPTER IV
    Access to Information
    ARTICLE 13 (Access to information by participating entities)
12. CRC participating entities have access to centralized information regarding natural persons, legal entities, or equivalent parties to whom they have granted credit or who have requested credit from them.
13. Centralized information is made available only to participating entities that have submitted credit operations to the CRC, or that the Bank of Mozambique has authorized, under paragraph b) of paragraph 1 of Article 6 of this Regulation.
14. The right of participants to access centralized information in the CRC lasts as long as the credit relationship remains valid or the credit application is pending review.
15. For consultation with the CRC, participating entities must obtain express consent from the data subject.
    ARTICLE 14 (Duty of Confidentiality)
16. Reported credit operations are subject to the duty of confidentiality and may not be used for purposes other than those established in this Regulation, subject to legal exceptions.
    DECEMBER 30, 2024 5334 — (763)
17. Transmission to third parties, in whole or in part, of information obtained from the CRC is expressly prohibited, except for beneficiaries or potential beneficiaries of credit.
    ARTICLE 15 (Information Sharing)
18. Information contained in the CRC may be shared or published, in whole or in part, for statistical, research purposes, or as legally established, and must not, in any case, allow the individualized identification of persons or institutions.
19. Shared information, as per the preceding paragraph, is subject to data protection restrictions imposed by applicable legislation.
    CHAPTER V
    Rights of Beneficiaries
    ARTICLE 16 (Access to information by credit beneficiaries)
20. Credit beneficiaries have the right to access information pertaining to them in the CRC, and may request it from the Bank of Mozambique or the participating entity with which they have requested, contracted, guaranteed, or provided a guarantee for credit.
21. Direct access to information registered in the CRC may be requested from the Bank of Mozambique, through mechanisms established for this purpose.
    ARTICLE 17 (Clarifications, updates and corrections)
22. A credit beneficiary or potential beneficiary may request clarification, update, or correction of information pertaining to them in the CRC from the participating entity where they hold or previously held credit.
23. The participating entity has a period of ten days to provide, in writing, the clarification requested by the credit beneficiary or potential beneficiary, as per the preceding paragraph, and, if applicable, to carry out necessary updates or corrections.
24. The period referred to in the preceding paragraph may be extended if a third entity's intervention is necessary, and the beneficiary must be timely informed of the reasons for not making a decision within the regular period.
25. For the purposes of paragraph 1, the participating entity sends supporting documentation to the Bank of Mozambique for updates or corrections of information in the CRC.
26. At the initiative of the participating entity, information reported to the CRC may be updated or corrected within seven days, counting from the date of initial registration.
27. The participating entity may, upon expiration of the period referred to in the preceding paragraph, correct the reported information, duly justifying its action.
28. Whenever necessary, the Bank of Mozambique requests additional information from participating entities.
    ARTICLE 18 (Release declaration)
29. Upon extinction of the credit liability that originated a registration in the CRC, the participating entity must report the fact and, upon request by the beneficiary, issue a letter or release declaration.
30. Failure to comply with the duty referred to in the preceding paragraph entails liability of the participating entity for costs incurred by the beneficiary as a consequence of such omission.
    ARTICLE 19 (Claims)
    In the event of inability to clarify by the participating entity or in case of dispute between it and its client, regarding information registered in the CRC, the latter may submit a claim to the Bank of Mozambique, as established in the Claims Handling Regulation.
    CHAPTER VI
    Final Provisions
    ARTICLE 20 (Retention period)
    Participating entities must retain all information submitted to the CRC for a period of ten years, counting from the date of credit extinction.
    ARTICLE 21 (Charges/Fees)
    Access to and consultation with the CRC is subject to payment of charges defined in the Procedures Manual.
    ARTICLE 22 (Procedures Manual)
    The Bank of Mozambique approves, by Circular, the Procedures Manual of the CRC.
    ARTICLE 23 (Offences)
    Violation of the provisions of this Regulation constitutes an offence punishable under the Credit Institutions and Financial Companies Law.
    Annex
    For the purposes of this Regulation, is understood as follows:
    Credit beneficiaries – Natural persons, legal entities, or equivalent parties that receive credit; Information centralization – aggregation through the Unique Banking Identification Number (NUIB) of credit operations from the financial system of credit beneficiaries; Credit – the contract by which an entity, acting for valuable consideration, places or promises to place funds at the disposal of another entity against the promise of returning them on the due date or incurs, in its interest, an obligation by signature, including credit established through disbursement of financing by institutions authorized to carry out activities related to participatory finance, which includes a tool or instrument in a non-interest-based system. It also covers loans granted by the Bank of Mozambique, by credit institutions and financial companies to their employees, within the scope of their personnel policy; Unique Banking Identification Number – unique numerical identification assigned by the Bank of Mozambique to natural or legal persons for carrying out banking operations in general, including foreign exchange; Participants – the Bank of Mozambique, credit institutions, financial companies, microfinance operators subject to supervision or monitoring by the Bank of Mozambique, and other entities authorized to participate in the CRC; User profile – permissions assigned to each user for access and use of CRC functionalities. Price — 20.00 MT NATIONAL PRESS OF MOZAMBIQUE, S.A. Electronic Edition by Pandora Box, Ltd.