Lei n.º 20/2020, de 31 de Dezembro – Lei das Instituições de Crédito e Sociedades Financeiras (Law 20/2020 of 31 December on Credit Institutions and Financial Companies)

Act 2020

Lei n.º 20/2020, de 31 de Dezembro – Lei das Instituições de Crédito e Sociedades Financeiras (Law 20/2020 of 31 December on Credit Institutions and Financial Companies)

Plain-English summary

Governs the establishment, operation, supervision and resolution of credit institutions and financial companies, including microfinance operators that are not credit institutions. Art. 6 creates the payment service provider categories (e-money institutions, funds transfer institutions, payment aggregators), and arts. 56-58 set out the Banco de Moçambique's oversight and supervisory powers, including applying sanctions (art. 58(f)). Insurers, pension fund managers and real estate investment companies are excluded (art. 1(2)); it revokes Laws 15/99 and 9/2004. The sanctions chapter (Chapter IX) was not in the text read.

Who it applies to

Banking · NBFC / Non-bank Lending · Payments & Fintech

Topics

Prudential & Capital Conduct & Consumer Protection Payments & Fintech / Digital Assets

Official source

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