The use of Artificial Intelligence could be a resource to be adopted by the Bank of Mozambique (BM) to make its vaults more secure, the Governor of the Central Bank said today.

Rogério Zandamela was speaking on Ilha de Moçambique, in Nampula province, during the 4th meeting with branch managers from across the country. The aim of the meeting is to evaluate strategies for monitoring safe houses, within the scope of the security of all the bank's organic units.

Another strategy for improving the security of safe houses relates to the selection and hiring of bank employees.

"As far as security is concerned, we point out the need to identify suitable solutions for monitoring safe houses. A branch without a vault is not a branch, it's like a central bank without a vault, it doesn't know where to put its money. And these appropriate solutions include the use of artificial intelligence and also making workers aware of the need to improve the security component and the need to improve the process of selecting and recruiting new workers, including companies that provide services to the Bank of Mozambique," argued Rogério Zandamela, quoted by the Mozambican press. Radio Mozambique.

On the other hand, the central bank is evaluating the possible advantages and necessary requirements for setting up private money processing centers.

"We don't have it yet in Mozambique, but we do in many countries, including some of our neighbors, to what extent we can open up this cash processing area that is under the management of private activities of other partners that are not the exclusive domain of the Bank of Mozambique. That's the idea. There is some thought being given to this," he said.

Rogério Zandamela recommends revising the regulations for hiring employees in order to involve the various departments of the institution in the decentralization of competencies, so as to make the process more flexible and transparent.

Previous meetings between the WB Governor and branch directors were held in Pemba (Cabo Delgado), 2019; Vilankulo (Inhambane), 2021; and Tete (Tete), 2022.