Mozambique: Prime rate stays at 18.6% for sixth consecutive month
File photo: MMO
The Board of Directors of the Bank of Mozambique today announced the extension for three months, starting on Friday, of measures taken to facilitate the use of electronic payments in the context of the Covid-19 pandemic.
Electronic wallets on mobile devices will no longer attract fees, and commissions on customer-to-customer transfers up to a maximum daily limit of 1,000 meticais remain suspended.
Transaction limits for mobile wallets have been increased, and commissions and fees charged for the new limits will be no higher than the maximums currently in force.
Banks will no longer charge fees and commissions for transactions made through digital channels up to a maximum daily limit of 5,000 meticais for individual customers, except in the case of withdrawals from ATMs.
Other measures decided by the central bank include halving commissions and fees on transfers between banks, and from electronic money institutions to individual customers.
“The adoption of the measures does not exempt compliance with the rules and procedures related to preventing and combating money laundering and the financing of terrorism,” the Bank of Mozambique notes.
Mozambique had, by Tuesday (July 7), a cumulative total of 1,040 cases of coronavirus infection, with eight deaths and 280 recovered.