The Banco de Moçambique emblem on one of the central bank’s buildings in Maputo, Mozambique (file photo, 2012). (Photo: Amâncio Miguel/VOA, Public domain, via Wikimedia Commons)

MOZAMBIQUE · BANKING

Mozambique’s central bank faces criticism over bank account freezes, after telling the public that banks may block accounts on suspicion. Two commentators on the STV television channel say the practice may breach the constitution because only judges should decide.

The Banco de Moçambique published its notice on Tuesday 29 September, citing two laws passed by parliament. The critics spoke on STV’s commentary programme Pontos de Vista, the Maputo newspaper O País reported on Monday 5 October.

What the Central Bank Notice Says

The one-page notice is titled “Blocking of Bank Accounts and Freezing of Balances”. It says banks may block accounts and freeze balances “as a preventive decision” when they suspect bank fraud or money laundering.

The same power covers suspected terrorist financing and the financing of weapons of mass destruction. The notice presents these bank account freezes as flowing from existing laws, not from a new regulation.

Under the 2022 bank accounts law, a block stops the holder from moving money, getting account information or closing the account. A freeze, known locally as a cativo, locks all or part of the balance while statements remain available.

The notice cites Law 27/2022 on bank accounts and Law 3/2024, which amended the anti-money-laundering law. It lists other grounds too, including a court ruling, a prosecutor’s order, a central bank decision and a client’s death.

For suspected money laundering, banks must alert the public prosecutor and GIFiM, Mozambique’s financial intelligence office, the notice says. The prosecutor then decides whether to suspend the suspect transaction.

The notice came four weeks after Felisberto Navalha took over as governor. President Daniel Chapo swore him in on Wednesday 2 September, replacing Rogério Zandamela, whose term ended on 31 August.

Who Says It Breaches the Constitution

Alberto da Cruz, a commentator on STV, accepts that the notice rests on the 2022 law. He argues the law itself is flawed and puts the central bank in the place of the courts.

“Even though this law was approved by the Assembly of the Republic, it has flaws; it violates principles,” he said. “Under the constitution, the Banco de Moçambique cannot usurp the role of the courts.”

Da Cruz also complained that the rules set no deadlines. He called that “a total violation of the Constitution”.

Vicente Manjate, a fellow commentator on the programme, said the central bank had been careless with its decision. He called the blocking “of doubtful constitutionality” and said only a judge can authorise it.

Manjate wants the central bank to tell customers what they should do, which deadlines apply and how long a freeze can last.

What the 2022 Bank Accounts Law Says

Parliament approved Law 27/2022 on 26 October 2022, and it took effect on its publication on 29 December 2022. Article 15 lets banks impose a preventive block where there is a well-founded suspicion of fraud or money laundering.

The same article gives the bank 48 hours to report the block, with reasons, to the central bank. The central bank must then rule, also within 48 hours, on whether the block stays or other steps follow.

A block ordered by a prosecutor must be confirmed by a judge within five days, the law says. Blocking an account without legal grounds is an especially serious administrative offence, punishable by a fine of 100 to 400 minimum wages.

The 29 September notice on bank account freezes does not mention the 48-hour clock. Article 15 also sets no maximum length for a preventive block that the central bank decides to keep.

Salary Accounts and a Rights Group’s Letter

Adriano Nuvunga addressed an open letter to the governor, dated Wednesday 30 September, a day after the notice. He is executive director of the Centre for Democracy and Human Rights (CDD), a Mozambican rights group.

Nuvunga said some banks had blocked workers’ salary accounts over allegedly outdated customer data, the news sites MZNews and Moz24h reported. Some banks demanded a declaration from the local neighbourhood secretary before workers could reach their money.

He asked what a neighbourhood secretary “has to do with the salary account of a formally identified worker”. Such workers already pay income tax and social security contributions, he wrote.

Nuvunga called a full block over a missing declaration disproportionate and harmful to financial inclusion. He accepts the need to fight fraud, but said workers must not become “automatic suspects”.

Why Banks Are Tightening Checks

Mozambique spent three years on the grey list of the Financial Action Task Force (FATF), the global anti-money-laundering watchdog. It was added in October 2022 and removed on 24 October 2025.

In April 2026, the government published a strategy to keep its controls in line with FATF standards from 2026 to 2030. The document says FATF strongly recommends such plans so that removed countries do not slip back onto the list.

The central bank has tightened other rules for customers this year. In July it set a new annual limit on payments abroad with Mozambican bank cards.

What It Means for US Readers

The 2022 law covers every private person and company that holds an account at a deposit-taking bank in Mozambique. That includes American aid workers, company staff and investors with local accounts.

Bank account freezes can halt salaries, rent and supplier payments until the bank or the central bank lifts them. Keep identity, tax number and address records up to date with your bank.

If an account is blocked, ask the bank in writing for its grounds. The central bank’s conduct supervision department answers queries by phone and at [email protected], its complaints address.

For investors, the debate over bank account freezes concerns customer rights, not the health of the banks. The notice deals with individual accounts under suspicion and says nothing about the soundness of Mozambique’s banks.

What Is Not Known

No public figures show how many bank account freezes and blocks Mozambican banks have imposed this year. It is also unclear how often banks report preventive blocks within the 48 hours the law requires.

By Tuesday 6 October, the central bank had published no reply to the commentators or to the CDD letter on its website. Whether it will issue clearer guidance on deadlines and appeals is open.

No challenge has been reported before the Constitutional Council, the body that rules on whether laws breach the constitution. Until the council rules, the claim that bank account freezes are unconstitutional remains an argument, not a ruling.

More: Mozambique news in English, every day from The Rio Times.

Frequently Asked Questions

What did Mozambique’s central bank announce on 29 September 2026?

The Banco de Moçambique issued a public notice saying banks may block accounts and freeze balances as a preventive step. This applies when they suspect fraud, money laundering or terrorist financing, under laws from 2022 and 2024.

Who says the account blocks breach Mozambique’s constitution?

Alberto da Cruz and Vicente Manjate, commentators on STV’s Pontos de Vista programme, made the argument, O País reported on 5 October. They say only judges should order such account blocks.

Can a bank in Mozambique block an account without a court order?

Yes. Article 15 of Law 27/2022 allows a preventive block on a well-founded suspicion of fraud or money laundering. The bank must report it to the central bank within 48 hours, and the central bank decides whether it stays.

What should a customer do if their account is blocked?

Ask the bank in writing for its grounds and keep identity and address records current. The central bank’s conduct supervision department answers queries at [email protected], its complaints address.

Has a court ruled that the account blocks are unconstitutional?

No. The claim comes from television commentators, and no ruling by Mozambique’s Constitutional Council has been reported.

Sources: O País, 5 October 2026; Banco de Moçambique (notice: Bloqueio de Contas Bancárias e Cativo de Saldos), 29 September 2026; Banco de Moçambique (Law 27/2022, Boletim da República), 29 December 2022; MZNews, 30 September 2026; Moz24h, 1 October 2026; Banco de Moçambique (governor sworn in), 2 September 2026; Banco de Moçambique (Resolution 28/2026, AML strategy 2026-2030), 16 April 2026.

This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief