The evaluation for two consecutive financial reporting periods (2017 and 2018), with “adverse opinion”, by two independent financial advisory companies, to the accounts of the Bank of Mozambique (BM) in which there were precisely unconsolidated statements reported negative assessment towards the BM as outlined in the audit reports. The Central Bank’s role as a regulator of the country’s financial system was called into question as outlined on Rule No. 14/2013, of 12 August (Law on Preventing and Combating Money Laundering and Financing to Terrorism). This law was reinforced by Decree No. 66/2014, which establishes the legal regime and preventive and repressive measures in relation to the use of the financial system and non-financial entities for the purpose of money laundering, terrorism financing and other related crimes. Bearing this in mind, CDD reserves no sentiment in asking the following: under what moral right does BM demand transparency and integrity from commercial banks if it itself as a regulator is not fully compliant with these principles that it set?
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