Import and export of currency must be declared
The Bank of Mozambique has determined that travelers entering or leaving the country with more than 10,000 US dollars, or the equivalent in other foreign currencies, in bank notes or coins, must declare them.
This declaration of ownership also covers Mozambican currency – moving more than 10,000 meticais (about 157 dollars) in or out of the country will also require a declaration.
According to a note issued by the bank, to declare these amounts, the holder of banknotes and coins must fill out a duplicated document at the customs authorities and must keep a copy of it.
The Bank of Mozambique clearly wants to avoid the movement of banknotes across the borders, “The Central Bank recommends the use of alternative means of payment, such as bank cards and telegraphic transfers, to avoid the risk of theft,” the note says.
In addition to cash, according to the Central Bank note, cited by the independent daily “O País”, the norms and procedures also cover precious metals.
“In the import and export of gold (in bar, ingot or other unworked form), silver, platinum and other precious metals and minerals, the bearer must present, in addition to the import documents, the respective authorization bulletin issued by the Bank of Mozambique”, says the document.
The measure comes days after the government approved the strategy to prevent and combat money laundering and terrorism financing.
Speaking after Tuesday’s meeting of the Council of Ministers (Cabinet), the government spokesperson, Deputy Justice Minister Filimão Suaze, said the strategy aims to contribute, build and maintain a robust Mozambican financial system, through the adoption of effective preventive and repressive measures against acts of money laundering and financing of terrorism, as well as the effective implementation of international regulatory standards, as a contribution to a healthy regional and international financial system.
(AIM)
