Bank of Mozambique

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Bank of Mozambique
Banco de Moçambique
Lettering of the bank at the headquarters in Maputo
Lettering of the bank at the headquarters in Maputo
Headquarters Maputo
founding 1975
president Rogério Lucas Zandamela
country Mozambique
currency

Metical

ISO 4217 MZN
Currency reserves US $ 1.754 billion (2016)
Website

www.bancomoc.mz

List of central banks

The Banco de Moçambique (BM) is the central bank of Mozambique . As a central bank, it is responsible for issuing banknotes for the metical . It has its headquarters in the number 1695 of Avenida 25 de Setembro in the capital Maputo . The governor of the bank is Rogério Lucas Zandamela.

history

In the Portuguese colonies , the Portuguese Banco Nacional Ultramarino (BNU) acted as the central bank since 1864 . In Mozambique it issued the Mozambican escudo, which was firmly linked to the Portuguese escudo .

After the Carnation Revolution in Portugal on April 25, 1974 and the end of the Portuguese colonial war , the independent People's Republic of Mozambique was proclaimed on June 25, 1975 . As early as May 17, 1975, the Banco de Moçambique (BM) was the central bank of the new country, which now took over the business of the BNU with all assets and liabilities . Alberto Cassimo became the first governor . In accordance with the planned economy under the one-party government of FRELIMO , the BM was both the central bank and the only commercial bank in Mozambique. In 1980 she introduced the Metical as the successor to the Escudo.

In 1990 the People's Republic of Mozambique became part of the Republic of Mozambique. As part of the shift towards a market economy , the commercial bank segment of the BM 1992 in the newly founded was Banco Comercial de Moçambique spun off, and the BM henceforth as pure central bank constituted . In 2006, BM introduced the new metical as part of a currency reform.

Branches

The Bank of Mozambique operates primarily in the capital, where it has its headquarters on Avenida 25 de Setembro . The central bank also operates branches in Beira (Sofala Province), Nampula (Nampula Province), Maxixe (Inhambane Province), Quelimane (Zambézia Province) , Tete (Tete Province), Pemba (Cabo Delgado Province) and Lichinga (Niassa Province).

Governors

Headquarters of the Mozambican Central Bank on Avenida 25 de Setembro in downtown Maputo. The building was built until 1967 for the Mozambican headquarters of the Banco Nacional Ultramarino, designed by José Gomes Bastos and Marcos Miranda Guedes

Web links

Individual evidence

  1. ^ Mozambique Foreign Exchange Reserves . tradingeconomics.com. Accessed on January 29, 2017 (English)
  2. ↑ Chronology of the Banco de Moçambique, pdf access (port.), Accessed on May 17, 2014
  3. ↑ Overview of all governors of the Banco de Moçambique ( Memento of the original from September 6, 2014 in the Internet Archive ) Info: The archive link has been inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. (pdf), accessed on May 17, 2014  @1@ 2Template: Webachiv / IABot / www.bancomoc.mz
  4. ↑ Nyusi appoints former IMF official Rogério Zandamela governor of the Central Bank of Mozambique. Club of Mozambique, August 31, 2016, accessed on May 27, 2017 .