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Bank of Mozambique

The Bank of Mozambique (Portuguese: Banco de Mo??ambique) is the central bank of Mozambique. The bank does not function as a commercial bank, and has the responsibility of governing the monetary policies of the country. The president of the Republic appoints the governor. The bank is situated in the capital, Maputo, and has two branches, one in Beira and one in Nampula. The Bank of Mozambique is active in developing financial inclusion policy and is a member of the Alliance for Financial Inclusion. History Most of Mozambique was a Portuguese overseas territory for several centuries. After independence in 1975, the newly created Government of Mozambique took over, without compensation, the Mozambican operations of Banco Nacional Ultramarino, a Portuguese colonial bank that had been acting as the bank of issue for the colony. This became the nucleus of Bank of Mozambique. In 1977 the government also nationalized almost...

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wikidata.org 0 views · 2024-12-26 22:54:09

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