On Friday (28), the Bank of Mozambique (BM) signed a protocol with the Insurance Supervision Institute of Mozambique (ISSM) to strengthen the control mechanisms of the national financial system.

The partnership is essentially aimed at preventing and combating money laundering, terrorist financing, the proliferation of weapons of mass destruction and related crimes in Mozambican territory, says the Mozambican government. News.

The institutions will be able to provide mutual assistance and share information on the matters in question with the support of other national and international financial institutions.

The parties should work to standardize the ways in which they regulate and supervise the financial sector and equip themselves with tools to keep up with technological developments.

The agreements are expected to respond to the current challenges and carry out the action plan to remove Mozambique from the Financial Action Task Force's grey list.