Regulatory Alerts2005-12-20
Added · Updated
Notice No. 6/GGBM/2005: Procedures for Import and Export of Goods and Services
The Bank of Mozambique establishes mandatory rules and procedures for credit institutions handling foreign exchange transactions related to the import and export of goods and services. The notice requires banks to verify specific documents, including proforma invoices, transport documents, and pre-shipment inspection certificates, and to maintain individual operational files and sequential registers for all transactions. It permits advance payments only under strict conditions, requiring a banking guarantee for amounts exceeding USD 50,000, and mandates that payments for services be confirmed by the beneficiary. These regulations entered into force immediately upon issuance on May 20, 2005, revoking any contradictory prior provisions.