{"id":44007,"date":"2023-08-04T11:04:33","date_gmt":"2023-08-04T11:04:33","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/government-expects-to-avoid-payment-system-sanctions"},"modified":"2023-08-04T11:17:46","modified_gmt":"2023-08-04T11:17:46","slug":"government-expects-to-avoid-payment-system-sanctions","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/government-expects-to-avoid-payment-system-sanctions","title":{"rendered":"Government expects to avoid payment system sanctions"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>Mozambique\u2019s government said on Monday that it expects the country to escape sanctions on its electronic payment system after having presented on 28 July the report containing the necessary advances to get off the international grey list.<\/p>\n

\u201cThis possibility is far away, to have \u2018credit cards blocked’\u201d, Lui\u0301s Cezerilo, deputy director general of the Financial Intelligence Office of Mozambique (GIFIM), told Lusa.<\/p>\n

Cezerilo based his confidence on the \u201cprogress\u201d that the Mozambican authorities present in the report submitted on 28 July to the Financial Action Task Force (FATF), an institution that placed Mozambique on the so-called grey list \u2013 a technical classification resulting from the finding of deficiencies in the system to combat money laundering and terrorist financing.<\/p>\n

\u201cMozambique has made progress. This progress is significant,\u201d he emphasised.<\/p>\n

Last week, Lui\u0301s Cezerilo told Lusa that the government expects the country to leave the FATF \u201cgrey list\u201d by the first half of 2024, pointing out that it has made \u201cenormous progress\u201d in removing this negative classification.<\/p>\n

READ: Mozambique: State hopes to exit FATF grey list by H1 2024<\/b><\/p>\n

\u201cWhat we are going to do this year is to demonstrate to the FATF that, both in terms of compliance and effectiveness, we have already made enormous progress, and in the next session in March or April 2024, the window will open,\u201d for the removal of Mozambique\u2019s name from the grey list, said Lui\u0301s Cezerilo.<\/p>\n

Cezerilo pointed to the government\u2019s approval of proposals to revise the money laundering and terrorist financing laws and the already planned approval of the respective regulations as important advances that the country has already made in conforming the regulatory framework to the recommendations given by the FATF.<\/p>\n

On the other hand, he continued, the authorities are working to have a tax forfeiture law and a beneficial owner statute soon as part of the roadmap to remove the country from the grey list, where it was included in October 2022.<\/p>\n

In February this year, the World Bank warned the Mozambican authorities of difficulties in accessing markets due to the country being on the international \u201cgrey list\u201d of money laundering and terrorist financing risks.<\/p>\n

\u201cGetting off the list is necessary to promote access to international financial markets, continue to attract foreign investment and participate in international trade,\u201d said Julian Casal, the World Bank\u2019s financial sector specialist at the time.<\/p>\n

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

Africa-Press – Mozambique. Mozambique\u2019s government said on Monday that it expects the country to escape sanctions on its electronic payment system after having presented on 28 July the report containing the necessary advances to get off the international grey list. \u201cThis possibility is far away, to have \u2018credit cards blocked’\u201d, Lui\u0301s Cezerilo, deputy director general […]<\/p>\n","protected":false},"author":84,"featured_media":44005,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,281,283],"class_list":["post-44007","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"\nGovernment expects to avoid payment system sanctions - Mozambique<\/title>\n<meta name=\"description\" content=\"Mozambique\u2019s government said on Monday that it expects the country to escape sanctions on its electronic payment system ...\" \/>\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\/government-expects-to-avoid-payment-system-sanctions\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Government expects to avoid payment system sanctions\" \/>\n<meta property=\"og:description\" content=\"Mozambique\u2019s government said on Monday that it expects the country to escape sanctions on its electronic payment system ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/government-expects-to-avoid-payment-system-sanctions\" \/>\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=\"2023-08-04T11:04:33+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-04T11:17:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/08\/sm_1691131599.599494.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"824\" \/>\n\t<meta property=\"og:image:height\" content=\"510\" \/>\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=\"2 minutes\" \/>\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\/government-expects-to-avoid-payment-system-sanctions#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/government-expects-to-avoid-payment-system-sanctions\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Government expects to avoid payment system sanctions\",\"datePublished\":\"2023-08-04T11:04:33+00:00\",\"dateModified\":\"2023-08-04T11:17:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/government-expects-to-avoid-payment-system-sanctions\"},\"wordCount\":408,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/government-expects-to-avoid-payment-system-sanctions#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/08\/sm_1691131599.599494.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mozambique\",\"Mozambique\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mozambique\/all-news\/government-expects-to-avoid-payment-system-sanctions#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/government-expects-to-avoid-payment-system-sanctions\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/government-expects-to-avoid-payment-system-sanctions\",\"name\":\"Government expects to avoid payment system sanctions - 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