Bank of Mozambique to publish all sanctions applied to credit institutions, financial companies

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Bank of Mozambique to publish all sanctions applied to credit institutions, financial companies

1:24 CAT | 29 Aug 2017

File photo / The Central Bank headquarters in Maputo

The Bank of Mozambique will now publish sanctions applied to credit institutions and financial companies which violate regulations.

According to a central bank press release to which AIM has had access, the decision is part of the implementation of measures aimed at reinforcing market discipline.

The measure will also afford the financial system greater transparency and accountability, as well as ensuring access to information by the general public, the Bank of Mozambique explains.

By law, the central bank performs the functions of state bank, advises the government in financial matters, guides and controls monetary and exchange rate policy, intermediates in international monetary relations and supervises financial institutions operating in the national territory.

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Source: AIM Moçambique