The governor of the Bank of Mozambique, Rogério Zandamela, has advocated for regulating the use of artificial intelligence in the national financial system, emphasizing that the challenge is to balance innovation with stability, security and consumer protection.
“This is not about stifling innovation, but rather about creating clear rules that ensure these tools are used safely, transparently, responsibly, and with respect for consumer rights,” he said on June 16 at the opening of the Bank of Mozambique’s 17th Scientific Conference.
Quoted by Lusa, Zandamela said AI is no longer a technology of the future, having already been integrated into the functioning of the financial system, the decision-making processes of institutions and the daily lives of citizens, including in Mozambique. The central bank brought the topic to the forefront of the conference, he said, because it recognizes the need to promote financial innovation that strengthens the confidence, integrity and stability of the financial system.
Among the advantages of AI, Zandamela highlighted the potential to strengthen financial inclusion, speed up transactions, improve customer service and enhance fraud prevention, as well as to provide more accessible solutions tailored to citizens’ needs. Internally, he acknowledged the use of technology to support monetary policy analysis, improve macroeconomic forecasts, enhance decision-making in complex contexts, and strengthen the monitoring of financial stability, supervision and the efficiency of payment systems.
Despite these opportunities, the governor warned of several associated risks — including the misuse of personal data, automated decisions that could harm consumers, cybersecurity threats, technological concentration with systemic impact, and the exclusion of citizens with limited access to digital technology.
Zandamela said the central bank has been preparing for the challenge through various initiatives since 2021, including the approval of the 2025–27 Digital Transformation Strategy and the creation of an internal team dedicated to artificial intelligence. An Artificial Intelligence Policy has also been approved, setting out guiding principles to ensure the institution’s safe, transparent and responsible use of the technology. “The Bank of Mozambique has also been investing in innovation,” he said, citing the development of digital tools including an institutional chatbot.
He also acknowledged that some institutions within the national financial system have already begun adopting AI-based solutions, particularly in mobile apps, websites and digital customer service platforms.
