The Mozambican Parliament approved this Friday (15), by consensus, two revised bills with the aim of responding to the evaluation recommendations of the third progress report for the country's removal from the gray list.

These are the draft laws establishing the legal framework and measures for preventing and combating money laundering and terrorist financing, and the one establishing the legal framework for preventing, suppressing and combating terrorism and the proliferation of weapons of mass destruction.

The two proposals are authored by the President of the Republic, Filipe Nyusi, and have been submitted to Parliament on an "urgent" basis.

"As a result of the evaluation of the third progress report, it was recommended that some articles in the laws be corrected in order to make them clearer," reads the reasoning behind the revision proposals, quoted by the AIM.

According to the proposal, "given the need to bring the country into line with the rules and commitments made to the Financial Action Task Force (FATF), in the context of strengthening the national financial system and the consequent removal of Mozambique from the gray list, it is imperative and urgent to correct some inaccuracies and insert some provisions into the two laws."

The revision is also intended to bring the two laws more into line with international legislation on the matter.

According to the proposer, the corrections merely consist of referring to some articles that will make the two legal provisions "perceptible and easy to implement, which is why they were considered decisive for the evaluation that will culminate in the possible removal of Mozambique from the gray list."

This is the second time that the two instruments, approved in 2022, have been subject to a one-off review. The first time was in August 2023, and the second took place this Friday (15).

The Minister of Economy and Finance, Max Tonela, said that Mozambique is seriously committed to strengthening its financial system as part of a proactive approach to mitigating risks associated with money laundering and terrorist financing.

"The government is committed to establishing a solid regulatory framework and adopting modern practices that ensure compliance with international standards," the minister emphasized.