Today, the Ministry of Economy and Finance, through the Insurance Supervision Institute of Mozambique (ISSM, IP), is launching the Bank Supervision Application platform, known as BSA, a web application for the supervision and oversight of banking financial institutions, customized for the insurance sector.

A press release to which we have had access states that ISSM, IP's adhesion to the BSA comes within the scope of the Modernization of Information Systems provided for in its Strategic Plan, which materializes through the implementation of various systems aimed at supporting the process of supervision and inspection of insurance activity, the respective mediation and pension funds in Mozambique.

The implementation of the platform will ensure timely and effective monitoring and supervision of the insurance market; strengthen measures to Combat Money Laundering and Terrorist Financing and the Financing of the Proliferation of Weapons of Mass Destruction; improve communication and information sharing between the regulator and supervised entities and automate the information validation process.

The opening ceremony of the launch will be led by the Deputy Minister of Economy and Finance, Carla Louveira, together with the President of the Board of Directors of ISSM, IP, Ester dos Santos José, at 2.45 p.m. at the Radisson Blu Hotel.