{"id":23469,"date":"2022-07-24T16:04:32","date_gmt":"2022-07-24T16:04:32","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-extends-suspension-of-standard-bank-from-forex-market"},"modified":"2022-07-24T16:11:34","modified_gmt":"2022-07-24T16:11:34","slug":"mozambique-extends-suspension-of-standard-bank-from-forex-market","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-extends-suspension-of-standard-bank-from-forex-market","title":{"rendered":"Mozambique extends suspension of Standard Bank from forex market"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>The central bank of Mozambique has extended the suspension of Standard Bank from the country\u2019s Interbank Foreign Exchange Market (MCI) for another year, the Bank of Mozambique said on Friday.<\/p>\n

The South Africa-based lender was fined $4.6 million in July 2021 by the Mozambique\u2019s central bank for engaging in \u201cfraudulent activities\u201d and was barred from engaging in some exchange-related activities for a year.<\/p>\n

The central bank said it decided to extend the suspension, which comes into effect from July 24, after it found during the course of its monitoring of Standard Bank since July 2021, evidence of serious irregularities, despite some improvements.<\/p>\n

However, the lender can continue to carry out foreign currency conversion activities in the country, the central bank said in a note seen by Reuters.<\/p>\n

Standard Bank said in a statement that the current suspension does not materially affect its ability to trade with its clients in the country.<\/p>\n

\u201cThe Bank continues to work with the (Bank of Mozambique) to resolve all outstanding issues of the 2021 audit, in order to be re-admitted to the interbank foreign exchange market,\u201d it said.<\/p>\n

For More News And Analysis About Mozambique<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mozambique. The central bank of Mozambique has extended the suspension of Standard Bank from the country\u2019s Interbank Foreign Exchange Market (MCI) for another year, the Bank of Mozambique said on Friday. The South Africa-based lender was fined $4.6 million in July 2021 by the Mozambique\u2019s central bank for engaging in \u201cfraudulent activities\u201d and […]<\/p>\n","protected":false},"author":84,"featured_media":23468,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[233,281,283],"class_list":["post-23469","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"\nMozambique extends suspension of Standard Bank from forex market - Mozambique<\/title>\n<meta name=\"description\" content=\"The central bank of Mozambique has extended the suspension of Standard Bank from the country\u2019s Interbank Foreign Exchang ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-extends-suspension-of-standard-bank-from-forex-market\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mozambique extends suspension of Standard Bank from forex market\" \/>\n<meta property=\"og:description\" content=\"The central bank of Mozambique has extended the suspension of Standard Bank from the country\u2019s Interbank Foreign Exchang ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-extends-suspension-of-standard-bank-from-forex-market\" \/>\n<meta property=\"og:site_name\" content=\"Mozambique\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-07-24T16:04:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-07-24T16:11:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2022\/07\/postQueueImg_1-62dd6eeb004dd.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1023\" \/>\n\t<meta property=\"og:image:height\" content=\"575\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-extends-suspension-of-standard-bank-from-forex-market#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-extends-suspension-of-standard-bank-from-forex-market\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Mozambique extends suspension of Standard Bank from forex market\",\"datePublished\":\"2022-07-24T16:04:32+00:00\",\"dateModified\":\"2022-07-24T16:11:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-extends-suspension-of-standard-bank-from-forex-market\"},\"wordCount\":201,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-extends-suspension-of-standard-bank-from-forex-market#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2022\/07\/postQueueImg_1-62dd6eeb004dd.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mozambique\",\"Mozambique\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-extends-suspension-of-standard-bank-from-forex-market#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-extends-suspension-of-standard-bank-from-forex-market\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-extends-suspension-of-standard-bank-from-forex-market\",\"name\":\"Mozambique extends suspension of Standard Bank from forex market - 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