Maputo, Jan. 7, 2026 (Lusa) - The Mozambican central bank warned on Wednesday, in a public notice, that the opening and use of bank accounts outside the country by residents in Mozambique requires "prior authorisation".

Citing foreign exchange legislation, the Bank of Mozambique states that the opening and use of bank accounts abroad by entities resident in the country are subject to prior authorisation from that entity.

"The application to open a bank account must be accompanied by appropriate documentation to assess the legitimacy and purpose of the transaction (justifying the opening of the bank account abroad and proving the source of funds for the account, showing the origin of the funds to be moved)," the notice reads.

It added that "bank accounts abroad should preferably be opened with a correspondent financial institution of a bank authorised to operate" in Mozambique.

"For accounts opened abroad without prior authorisation, account holders must apply for regularisation with the Bank of Mozambique, following the procedures for opening accounts," the notice also stated.

According to the Bank of Mozambique, "these requirements aim to ensure the transparency of financial operations abroad and allow the foreign exchange authority to monitor capital movements adequately."

Although not mentioned in the notice, the position comes at a time when the country is struggling, according to recurring complaints from Mozambican businesspeople, with difficulties in accessing foreign currency, necessary for the import of goods and services, with the use of credit cards outside the country also being limited, at the instructions of the central bank.

The government has also begun limiting imports of 16 products, arguing that this is necessary to protect national production capacity and preserve foreign exchange reserves.

PVJ/ADB // ADB.

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