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NOTICE: Prohibition of external receipts via SWIFT MT103 in national currency

Please note that the Bank of Mozambique has communicated on the 10th June 2020 all commercial banks to not process inward payments in local currency, as they must be remitted to Mozambique in foreign currency, despite the beneficiary account being in MZN or in foreign currency.

Please note that all export proceeds from goods and services provided by resident entities to non-residents, foreign loans, foreign direct investment, as well as other payments made by non-resident entities in favor of residents via SWIFT MT103, must be sent to the country in foreign currency, the conversion of which must be made in Mozambique, applying the exchange rate of the day on which the transaction is processed.

Considering that the above inward remittances contravenes the exchange regulation, leading to penalties, please be informed that Standard Bank, S.A. will not act upon and will consider as null and void.

However, the remaining payments from non-resident entities to resident entities using MT103 received in Metical may be processed, provided that the reason for the transactions are presented.

For any additional clarification please feel free to contact your relationship manager or address your query to the following e-mail: [email protected]

Events & Social Responsabilities

NOTICE: Prohibition of external receipts via SWIFT MT103 in national currency

Please note that the Bank of Mozambique has communicated on the 10th June 2020 all commercial banks to not process inward payments in local currency, as they must be remitted to Mozambique in foreign currency, despite the beneficiary account being in MZN or in foreign currency.

Standard Bank plays leading role in Mozambique LNG financing

Standard Bank is one of the leading financial services providers involved in the financing of up to US $15 billion for the Mozambique LNG project, led by the French multinational Total, in the Rovuma basin, whose financing documents, confirming access to the senior debt, were signed on Wednesday, July 15.