- A memorandum of understanding (MOU) was signed by the Bank of Mozambique and the French Embassy on July 1st under which France will donate 500,000 euros (about 592,000 US dollars) to support the fight against money laundering and the financing of terrorism.
- The MOU is expected to facilitate identifying and mitigating activities related to the illicit circulation of capital in Mozambique.
A memorandum of understanding (MOU) was signed by the Bank of Mozambique and the French Embassy on July 1st under which France will donate 500,000 euros (about 592,000 US dollars) to support the fight against money laundering and the financing of terrorism. The MOU is expected to facilitate identifying and mitigating activities related with the illicit circulation of capital in Mozambique.
Speaking at the signing ceremony, the governor of the Bank of Mozambique, Rogerio Zandamela, said that Mozambique’s financial system was exposed to the risks of money laundering and of financing terrorism, which creates an urgent need to strengthen the mechanisms to identify and combat it. He also urged the central bank to adopt a regulatory framework and a more effective and comprehensive monitoring system.
Speaking to the press, French ambassador David Izzo expressed the hopes that, with this support, the Mozambican banking system will become more robust and prepared to control illicit flows of capital intended for terrorist groups.
