Just In: Standard Bank barred from converting foreign exchange – O País report

Login

Register

http://www.clubofmozambique.com/

Just In: Standard Bank barred from converting foreign exchange – O País report

8:19 CAT | 30 Jun 2021

File photo: O País

The Bank of Mozambique announced today the suspension – preventive and for an indefinite period of time – of Standard Bank from all activities involving the conversion of foreign currency in the foreign exchange market.

In a communiqué released in the late afternoon, the central bank also informs the public that – with a view to safeguarding the interests of the bank’s customers, – the continuity of the business is being ensured by the other banks operating in the country, under the guidance and clarification of Standard Bank Moçambique, in close collaboration with the Bank of Mozambique.

The Bank of Mozambique further reports that foreign exchange operations in the country are taking place normally and that the financial system, in general, remains stable and solid.

Also read: Mozambique: Standard Bank suspended from exchange market – AIM report

This decision follows the findings made during the on-site inspection being carried out by the Central Bank at the Standard Bank Mozambique.

The statement was issued in the late afternoon of this Wednesday (June 30) and was preceded by another one sent to all participating institutions in the Interbank Foreign Exchange Market a week ago, which gave Standard Bank 10 days to explain itself.

Standard Bank was formally notified by the Bank of Mozambique, last Wednesday, June 23 , of three misdemeanour proceedings: against Standard Bank itself and two of its employees.

Also read: Mozambique: Central bank starts contravention proceedings against Standard Bank

Standard Bank interdito de converter moeda estrangeira

O Banco de Moçambique anunciou hoje a suspensão, preventiva e por tempo indeterminado, do Standard Bank em todas as actividades que envolvam a conversão de moeda estrangeira no mercado cambial.

Num comunicado, o Banco central informa ainda ao público que, com vista a salvaguardar os interesses dos clientes da instituição bancária, a continuidade do negócio está a ser assegurada pelos restantes bancos que operam no país, sob orientação e esclarecimento do Standard Bank Moçambique, em estreita colaboração com o Banco de Moçambique.

O regulador do sistema financeiro comunica ainda que as operações cambiais decorrem com normalidade e que o sistema financeiro, no geral, continua estável e sólido.

Esta decisão surge na sequência das constatações apuradas durante a inspecção on-site que estão a ser feitas pelo Banco Central no Standard Bank Moçambique.

O comunicado enviado no fim da tarde desta quarta-feira é antecedido por um outro enviado às instituições participantes no Mercado Cambial Interbancário há uma semana, que dava 10 dias ao Standard Bank para se explicar.

O Standard Bank foi formalmente notificado na quarta-feira, 23 de Junho, pelo Banco de Moçambique, de três processos de contravenção, contra si e dois dos seus colaboradores.

Source: O Pais