Maputo — The Bank of Mozambique on Wednesday suspended one of the country's largest commercial banks, Standard Bank, from all activities on the Interbank Exchange Market.
The brief statement from the central bank gave no reason for the suspension but, according to Thursday's issue of the independent newssheet "Carta de Mocambique", it follows an inspection which gave rise to suspicions that Standard Bank had committed violations of banking rules, presumably concerning the exchange rates it was practicing.
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