Regulatory Alerts2005-07-01
Added · Updated
Notice No. 7/GGBM/2005 of June 6 - Amendment of Notice No. 5/GGBM/2005 Regarding Foreign Currency Credit Provisions
The Bank of Mozambique amends Article 3 of Notice No. 5/GGBM/2005 to correct drafting inaccuracies regarding specific provisions for overdue foreign currency credits. The revised rule mandates that exporters maintain 0% provisions at concession and follow Notice No. 5/99 for overdue amounts, while other entities must hold 50% provisions at concession and 100% for overdue credits. This Notice entered into force immediately upon issuance on June 6, 2005.
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