Credit Registry Regulation (Central de Registo de Crédito): participation, consent to consult, secrecy and sharing

The Central de Registo de Crédito is a credit information system that centralizes the information on the credit responsibilities of individuals and legal entities held by the participating entities. The Regulation applies to all entities under the supervision or monitoring of the Banco de Moçambique that grant credit or carry on activities directly related to credit.

The participating entities must send the information on their credit operations to the registry within twenty-four hours of the disbursement or of the other event that creates the responsibility. A participating entity must obtain the express consent of the person concerned before it consults the registry. The credit operations reported to the registry are subject to a duty of secrecy and may not be used for purposes other than those the Regulation sets.

Passing information obtained from the registry on to third parties is expressly forbidden, except to the beneficiaries or prospective beneficiaries of credit. Information in the registry may be shared or published for statistical or research purposes or as the law provides, and in no case so as to identify persons or institutions individually. The participating entities must keep all the information they sent to the registry for ten years from the extinction of the credit.

A breach of the Regulation is a contravention punishable under the Law on Credit Institutions and Financial Companies. The Aviso was published in the Boletim da República, I Série, n.º 251, of 30 December 2024. The Aviso enters into force 180 days after the date of its publication.