Notice No. 2/GBM/2017 of 8 May – Concerning Payments Abroad Using International Bank Cards and Revoking Notice No. 11/GBM/2015 of 31 December

BOLETIM DA REPÚBLICA OFFICIAL PUBLICATION OF THE REPUBLIC OF MOZAMBIQUE SUMMARY NOTICE The matter to be published in the "Republic Bulletin" must be submitted as a duly authenticated copy, one per subject matter, containing besides the necessary indications for this purpose the following endorsement, signed and authenticated: For publication in the "Republic Bulletin". IMPRENSA NACIONAL DE MOÇAMBIQUE, E.P. Bank of Mozambique:
Notice No. 2/GBM/2017:
Concerning payments abroad using international bank cards and revoking Notice No. 11/GBM/2015 of 31 December.
Monday, 8 May 2017 FIRST SERIES — Number 71
Price — 7.00 MT
IMPRENSA NACIONAL DE MOÇAMBIQUE, E.P.
BANK OF MOZAMBIQUE
Notice No. 2/GBM/2017 of 8 May
Notice No. 11/GBM/2015 of 31 December establishes, in its Article 4, an annual limit equivalent to 700,000.00 MT (seven hundred thousand meticais) corresponding to the total amount that each holder of an international bank card is authorized to make for any payments abroad using said card. The establishment of the aforementioned annual limit proved necessary in light of an unfavorable macroeconomic situation characterized, notably, by exchange rate instability due to the decline in commodity prices, which negatively impacted export revenues and consequently depleted the country's net international reserves. Considering the positive effect of the Monetary Policy measures currently being introduced, coupled with the emerging recovery of exchange rate stability and improvement in the position of Net International Reserves, it is justified to resume the liberalization process for using international bank cards in payments abroad, without prejudice to the verification duty and procedures established in exchange legislation to be observed by the Credit Institutions issuing these cards. In these terms, the Bank of Mozambique, under the combined provisions of paragraph d) of paragraph 2 of Article 37 of Law No. 1/92 of 3 January – Organic Law of the Bank of Mozambique, and paragraph 2 of Article 130 of Decree No. 83/2010 of 31 December – Exchange Law Regulation, determines:
ARTICLE 1
Revocation
Notice No. 11/GBM/2015 of 31 December is revoked.
ARTICLE 2
Entry into Force
This Notice enters into force on the date of its publication.
Any doubts arising from the interpretation and application of this Notice must be submitted to the Regulation and Licensing Department of the Bank of Mozambique.
Maputo, 14 February 2017. – The Governor, Rogério Lucas Zandamela.