Millennium bim, in collaboration with the INGO Forum, hosted an executive meeting to discuss the financial and operational needs of non-governmental organisations (NGOs) active in Mozambique, with a focus on banking solutions, foreign exchange operations, and financial inclusion challenges. The initiative aimed to facilitate resource management for these institutions and identify solutions tailored to the specific nature of their activities.
According to a press release from the bank, Januário Valente, executive board member of Millennium bim responsible for Corporate and Investment Banking, described the meeting as an opportunity to deepen understanding of the organisations’ needs and improve support for their financial operations.
“Non-governmental organisations play an important role in responding to different social and economic challenges in Mozambique. We recognise that the nature of their activities requires appropriate financial solutions, clear procedures, and close support. With this meeting, we aimed to better understand their challenges and help them manage their operations with greater efficiency and security,” Valente said.
INGO Forum coordinator Carlos Penalver stressed the importance of closer engagement between NGOs and the banking sector, particularly regarding procedures associated with fund transfers and foreign currency operations.
“Managing financial resources represents a significant challenge for many non-governmental organisations, particularly in fund processing, foreign exchange operations, and payments linked to our activities. This meeting allowed us to clarify procedures, share concerns, and identify solutions that can facilitate the work of INGO Forum member organisations,” Penalver said.
According to the same statement, the meeting brought together representatives of national and international NGOs, following contacts between Millennium bim and the INGO Forum — a platform that brings together 81 international organisations. The initiative arose from the need to deepen awareness of available banking services and streamline the financial management of these institutions.
During the session, participants discussed topics related to the national economic context, procedures applicable to foreign exchange operations, and the processing of funds received from donations, as well as payment solutions, treasury management, and the use of digital banking channels.
Also addressed were the challenges associated with compliance requirements for customer identification and anti-money laundering obligations, particularly in operations involving beneficiaries with limited access to formal financial services.
The meeting also included a question-and-answer segment, during which participants raised practical questions relating to transfers, payments, foreign currency operations, and documentary requirements.
Through this initiative, Millennium bim and the INGO Forum sought to establish a framework for continued dialogue to address the ongoing financial needs of member organisations, contributing to greater coordination between the banking sector and institutions developing social and economic impact projects in Mozambique.
Source: Diário Económico
Original article: https://www.diarioeconomico.co.mz/?p=561534
