The Bank of Mozambique (Banco de Moçambique) has issued a public notice clarifying the legal conditions under which commercial banks and other credit institutions are allowed to block bank accounts and restrict account balances.
In a statement released on September 29, the Central Bank said the measures are provided for under Law No. 27/2022 of 29 December, which establishes the Legal Framework for Bank Accounts, and Law No. 3/2024 of 22 March on Anti-Money Laundering and Counter-Terrorism Financing.
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