The Bank of Mozambique (BdM) imposed fines totalling nearly one million euros over the past year on nine credit institutions and financial companies operating in the country for “violations of legal and regulatory standards,” according to data cited by the Lusa news agency.
According to information released by the central bank, between December 2024 and December 2025 nine institutions were sanctioned with fines as a result of breaches of prudential regulations, rules on the prevention and combating of money laundering and terrorism financing, foreign exchange provisions, and financial consumer protection standards.
Banco Comercial e de Investimentos (BCI), owned by the Portuguese group Caixa Geral de Depósitos, was the most heavily penalised institution during the period under review, having been subject to two separate sanctions imposed by the regulator. The first fine imposed on BCI amounted to €415,300 and resulted from the improper modification of the terms and conditions of financial products and services, failure to comply with legally mandated deadlines for responding to customer complaints, and violation of the duty to cooperate with BdM, among other infractions.
The second sanction imposed on BCI, amounting to €151,400, again stemmed from failure to meet the deadline for responding to customer complaints, according to details provided by the central bank. Millennium bim, led by the Portuguese group Banco Comercial Português and considered one of the two largest banks in Mozambique alongside BCI, was also sanctioned by BdM with a fine of approximately €13,200.
In the case of bim, the sanction resulted from a breach of the duty of ongoing monitoring and supervision of the business relationship with clients, as well as failure to comply with the obligation to review transactions, according to the regulator.
In addition, First National Bank, Nedbank, Access Bank, MyBucks Mozambique, Ecobank Mozambique, the digital wallet e-Mola and the microbank MAIS were also fined. The sanctions come at a time when the national financial system comprises 15 commercial banks, 12 microbanks and three digital wallet operators, among other financial operators supervised by the central bank.
Source: Diário Económico
