News Column

Handout On Exports

July 5, 2014

Eva Meignen

The Bank of Mozambique noted that during export operations, economic agents instructed their clients abroad to submit export receipts on different bank accounts of those with whom transactions have been started, it is say those who have served to validate the Declaration of Commitment of banking intermediation for the export of goods.

According to the Bank of Mozambique, it violates the Law n 11/2009 of March - Law of Exchange and hampers the normal functioning of the national banking system and the collection of statistical information by the authorities.

It should be noted that non-compliance with regulations on the part of economic agents and intermediaries commercial banks constitutes a violation of the law of exchange in force, this is liable to open a process of contravention.

In this sense, the CTA appeals to all economic agents involved in foreign trade operations to strictly follow the laws in force in order to avoid inconvenience due to sanctions.

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Source: AllAfrica

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