The governments of Mozambique and Rwanda will exchange information on combating money laundering, according to an agreement between the two countries' financial intelligence institutions..

At issue is a memorandum of understanding signed on Friday in Kasane, Botswana, between Rwanda's Financial Intelligence Center (FIC) and Mozambique's Financial Intelligence Bureau (GIFIM), on the sidelines of the meetings of the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) in Kasane, Botswana.

"The authorities will cooperate with each other, exchanging information or financial intelligence (...), spontaneously or upon request, which may assist in the investigation of person(s) suspected of having been involved in money laundering, financing terrorism, financing the proliferation of weapons of mass destruction or related criminal activities," justifies the text of the memorandum of understanding released by a Mozambican government source.

The agreement, signed by the director-general of the FIC, Jeanne Pauline Gashumba, and the director-general of the GIFIM, Aurélio Matavele Júnior, also aims to "develop, expand and improve the cooperation framework" between the two authorities "and create a mutually beneficial relationship".

"The authorities will cooperate to exchange, gather, develop and analyze information in their possession relating to financial transactions suspected of being related to money laundering and associated underlying crimes, terrorist financing and financing the proliferation of weapons of mass destruction or related crimes," adds the agreement, quoted by Lusa.

The Deputy Minister of Economy and Finance, Carla Louveira, on Friday pointed to the government's risk assessments on terrorist financing and legislative changes as "proof of the country's commitment" to getting off the FATF's international "gray list".

"Mozambique is committed to cooperating with all nations, especially the ESAAMLG, and bilaterally in preventing and combating money laundering and terrorist financing according to the recommendations of the FATF [Financial Action Task Force]," said Carla Louveira, speaking to the media on the sidelines of the African group's expert meetings in Kasane.

According to the Mozambican government official, the carrying out of risk assessments in the sector of "designated non-financial activities and professions", the approval of laws to prevent and combat money laundering and the revision of the Law on Combating Terrorism and the Proliferation of Weapons of Mass Destruction "are proof of the commitment" of the country, which has already requested the reclassification of another 15 recommendations made by the FATF in order to get off the international "gray list".

The Kasane meeting aims to discuss and approve the mutual evaluation report and assess the progress made by ESAAMLG member states in implementing the FATF's 40 recommendations, of which Mozambique expects the nine reassessed to be "approved and published" immediately.

At this meeting, the Mozambican government also requested the first assessment of the reclassification of another 15 recommendations, as a result of the recent approval by parliament of legislation to combat money laundering and terrorist financing, in an attempt to resolve "the remaining deficiencies identified in the 2019 assessment".