The Bank of Mozambique and Financial Sector Deepening Mozambique are to cooperate in promoting digital financial services in Mozambique, it was announced yesterday in a statement. “This memorandum of understanding will establish an institutional relationship for the implementation of projects aimed at the dissemination and promotion of digital financial services in Mozambique,” the Bank of Mozambique statement says. The agreement also foresees technical cooperation to reinforce the implementation of financial inclusion initiatives and actions in Mozambique. Digital platforms will allow interested entities to monitor the evolution of financial products and services, and avoid “uncertainties as to their conformity with legislation”. “The Bank of Mozambique provides a physical space for start-up companies to conduct innovative trials of ‘fintech’ financial products or services developed in a controlled and time-bound environment,” the statement explains.-LUSA