The Bank of Mozambique (BoM) announced on Monday 14 October the appointment of two resident inspectors who will be based at Standard Bank and Banco Comercial e de Investimentos (BCI). The measure will ensure the stability of the financial system, as well as preserving the interests of customers.
‘The decision is in line with the need to ensure continuous, objective and impartial monitoring of the activities of credit institutions and financial companies, preserving the interests of customers and ensuring the stability of the financial system,’ said the BoM in a statement seen by DE.
In specific terms and with immediate effect, the BoM has appointed Adelina José Chilaúle and Cláudio Júlio Mangue, senior staff at the central bank, to the positions of resident inspector at BCI and resident inspector at Standard Bank, respectively.
‘The new resident inspectors will continue the risk-based supervisory approach and participate in relevant meetings of the collegiate bodies of the aforementioned banks,’ the statement emphasised.
The financial institution reaffirmed that despite this supervisory action, Banco Comercial e de Investimentos and Standard Bank remain solid and stable.
With this decision, all three of the country’s largest banks now have resident inspectors from the Bank of Mozambique, following the appointment, on 3 May, of Hélder Manuel Chachuaio Muianga as resident inspector at Banco Internacional de Moçambique (Millennium bim), of the Portuguese group BCP.
BCI, Millennium BIM and Standard Bank are the three banks considered systemic in 2024 by the central bank, similar to the 2023 classification.
Cleusia Chirindza
