Local Content: Proposed law goes to the Council of Ministers
Voa (File photo)
Credit institutions operating in Mozambique will from now on have to publish information on prudential and economic-financial indicators quarterly, a central bank announcement determines.
The Bank of Mozambique justifies its decision with the need to “promote and give greater scope to the dissemination of information on the solvency and liquidity levels of credit institutions”, an announcement appearing on the bank’s website on Wednesday reads.
The 11-item notice, dated June 30, replaces a previous one of December 31, 2013.
In addition to maintaining the routine six-monthly publication of a “market discipline” document, the new regulation adds the requirement for quarterly publication of a chart with prudential and economic-financial indicators.
The chart is to display data on capital, asset quality, management, results and liquidity. The information “must be published on the website of the respective institutions”, and be “sent to the Bank of Mozambique for publication in aggregate form”.Source: Lusa