- As part of the debate on expectations around the proposed law on the beneficial ownership in Mozambique, organized by the Center for Democracy and Development (CDD)1 , the Ministry of Justice, Constitutional and Religious Affairs (MJACR) reaffirmed the need for Mozambique to have specific legislation on beneficial ownership, as it understands that the Law for the Prevention and Combat of Money Laundering and the Financing of Terrorism is insufficient to cover all related matters to the beneficiary property.
At this event, MJACR recognized that law making is a long process, but the goal is to have the beneficial ownership law passed within the next two years. Despite the pressure, the MJACR ensures that steps will not be skipped and that it will ensure that the law responds to society’s wishes by establishing a multidisciplinary team to follow through with the process, including consultations with relevant parties.