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Approval by the Bank of Mozambique of Exchange and Prudential Notices

We hereby inform the business community and other interested parties that the Bank of Mozambique has approved Notices 1/GBM/2025, 2/GBM/2025 and 3/GBM/2025, all dated 2 April, (hereinafter referred to as “Notice 1”, “Notice 2” and “Notice 3”, respectively), which establish foreign exchange and prudential rules and procedures. The approval of these regulations comes in a context in which the current socio-economic situation favours a shortage of foreign currency in the country and aims to provide greater flexibility in the management of foreign currency by commercial banks in the face of the challenges they face.

The main innovations include the following:

  1. Notice 1 establishes the Exceptional Regime for the Repatriation and Conversion of Proceeds resulting from the Export of Goods, Services and Investment Income Abroad established in Notice No. 5/GBM/2024 of 21 March. This Notice increases the conversion rate for proceeds resulting from the export of goods, services and investment income abroad from the current 30% to 50%. This instrument will be in force for a period of 18 months;
  2. Notice 2 establishes the Regime for the Repatriation and Conversion of Re-export Proceeds from Petroleum Products, under which banks will now fully convert revenues from the re-export of petroleum products. Further, the export proceeds must be repatriated, through bank transfer, within 30 days from the date of shipment. This notice applies to re-export intermediary banks and entities re-exporting petroleum products and repeals Notice 2/GBM/2023, of 16 June; and
  3. Notice 3 establishes the Exceptional Regime of Minimum Regulatory Provisions regarding overdue credit approved by Notice 16/GBM/2013, of 31 December. This notice will be in force for a period of 12 months and aims to promote the expansion of banks' lending capacity.

Furthermore, we would like to inform that Notice 1, Notice 2 and Notice 3 came into force on 2 April 2025, and failure to comply with them is punishable under the terms of the Law on Credit Institutions and Financial Companies approved by Law No. 20/2020 of 31 December.