This Saturday, the Banco de Moçambique (BM) and the Central Bank of Timor-Leste (BCTL) signed a cooperation and technical assistance agreement in Maputo, on the sidelines of the International Symposium held as part of the celebrations marking BM’s 50th anniversary and the 45th anniversary of the Metical. The initiative arises from the joint commitment to strengthen bilateral cooperation ties between the authorities, expressed by the BCTL during the second Conference of Central Bank Governors and financial officers between China and Portuguese-speaking countries, held in Macau in September 2024.

Speaking on the occasion, the Governor of the Banco de Moçambique, Rogério Zandamela, expressed deep satisfaction with the formalization of the agreement, which comes as the Banco de Moçambique marks its 50th anniversary and just one month before the 45th anniversary of the national currency.

Rogério Zandamela took the opportunity to thank his counterpart for his leadership and commitment to implement the partnership, through professional training, technical assistance, consulting, information and documentation sharing, among other areas of cooperation.

For Zandamela, the act strengthens the ties of cooperation between the two institutions, which have materialized through the forum of central banks of Portuguese-speaking countries, and by initiatives of each of the central banks. "With this agreement, we are also creating the conditions to deepen the exchange of experiences in the supervision of financial institutions and capital markets, underscoring joint supervision, risk-based supervision, including emerging risks and digital financial services, as well as the sharing of sound prudential practices and FinTech regulation," elaborated the Governor.

The Governor expressed confidence in the results and said he hoped to advance cooperation in other key areas, such as the management of sovereign wealth funds and institutional transparency. "We believe this partnership will yield tangible results and mutual benefits, enabling us to address the challenges facing our economies and to ensure the development and strengthening of our financial systems,” said the Governor.

Rogério Zandamela concluded by reiterating his appreciation for the Central Bank of Timor-Leste’s willingness to cooperate and reaffirmed the Banco de Moçambique’s commitment to implementing the actions outlined in the agreement. He underscored that the cooperation, already underway through the sharing of Timor-Leste’s experiences during the high-level seminar on sovereign wealth funds hosted by the Banco de Moçambique in March 2019, in Maputo, shall be both fruitful and enduring.

Furthermore, the Governor of the Central Bank of Timor-Leste, Hélder Lopes, addressed words of thanks and praise to the Banco de Moçambique for its hospitality in light of the golden jubilee celebrations and pointed out the formalization of the agreement as an important milestone in cooperation between the two institutions.  “We are open to cooperating with the Banco de Moçambique, either in sharing experiences regarding the management of the Sovereign Wealth Fund to strengthen the country's economy, as well as other relevant matters,” said Lopes.

In attendance at the event were the Ambassador of the Republic of Timor-Leste in Mozambique, Miguel Lopes de Sousa Sequeira, the representative of the Governor of Norges Bank, Ingunn Valvatne, the Governor's Adviser, Luísa Navele, the Director of the BM Governor's Office, Emília Matsinhe, the Directors of the BM International Relations Department and Communications Office, Zacarias Maculuve and Pinho Ribeiro, respectively, BM managers and staff members of both institutions.

Step into more highlights of the festivities at The Bank Turns 50.