NATIONAL PAYMENT SYSTEM OVERSIGHT POLICY
Definition
The NPS oversight is a BM activity for promoting safety and efficiency in the operation of all NPS subsystems and, especially, to lower systemic risk. The aim is to ensure that transfers take place safely and efficiently, protecting all players and the financial system in general.
Legal framework and standards applied in the NPS oversight
Law No. 2/2008, of February 27, National Payment System Law (NPS) confers on the BM powers to oversee the NPS.
In its capacity as overseer, the BM follows international standards and best practices, and Principles for Financial Market Infrastructures (PFMI) of the Bank for International Settlements (BIS).
Oversight of regional and international payment systems
The Banco de Moçambique participates in the oversight of regional and international payment systems, through cooperative, bilateral or multilateral oversight agreements, and with the central banks or other regulatory authorities of the countries licensing such systems.