The Insurance Supervision Institute of Mozambique has published an update on its launch of a workshop and training programme for the insurance sector and mandatory pension funds, starting with a two-day workshop in Nampula on 16 to 17 February held with the World Bank. The sessions are positioned as part of Mozambique’s efforts to address Financial Action Task Force (FATF) recommendations under increased monitoring following the country’s mutual evaluation by the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG). The institute framed the workshop as an opportunity to clarify the obligations of supervised insurance and mandatory pension fund operators under Law No. 10/2022 of 7 July on the prevention and combating of money laundering and terrorist financing. Background measures referenced include Cabinet approval of an anti-money laundering and counter-terrorist financing (AML/CFT) strategy, parliamentary approval of revisions to the AML law, and adoption of legislation on preventing and combating terrorism and the proliferation of weapons of mass destruction, alongside the creation of a high-level coordination committee led by Prime Minister Adriano Maleiane and an executive implementation committee led by the Minister of Economy and Finance, Max Tonela. Topics covered included AML/CFT fundamentals, beneficial ownership, the national risk assessment, and AML/CFT risks and offences in insurance activity. The institute indicated that the same initiative will be replicated in central and southern regions, including the provinces of Sofala and Maputo.
Insurance Supervision Institute of Mozambique 2025-05-05
Insurance Supervision Institute of Mozambique launches World Bank supported AML/CFT workshop series for insurers and mandatory pension funds
The Insurance Supervision Institute of Mozambique, with the World Bank, launched a workshop and training for the insurance sector and mandatory pension funds to address Financial Action Task Force recommendations. This initiative, under increased monitoring by the Eastern and Southern Africa Anti-Money Laundering Group, clarifies obligations under Law No. 10/2022 on anti-money laundering and counter-terrorist financing. The programme will extend to central and southern regions, including Sofala and Maputo.