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Millennium Bim integrates SeW

Millennium Bim integrates SeW

18 May 2012

Just like FNB, Banco Único, Moza Banco and BCI, Millennium BIM has joined the Single Electronic Window System (SeW), by signing the accession agreement with the Revenue Authority.

The agreement is aimed at implementing the policies set by the Mozambican authorities within the scope of the modernization, simplification and increasing the efficiency in the process of customs clearance for goods that involves the trading community in the compliance with their rights, duties and tax obligations towards the Mozambique Revenue Authority.

According to Rosário Fernandes, the president of the Mozambique Revenue Authority “how much market share each commercial bank has does not matter here, but the capacity to manage prudential ratios that render viable the timely transmission, and without penalties due to excessive delay in transferring government savings resulting from the tax and revenue collection to the Single Treasury Account”.

Rosário Fernandes also said while signing of the Memorandum that Millennium BIM is the fifth bank, that celebrates the accession agreement, and as such, several “interconnectivity and interdisciplinary aspects may have to be addressed in special and complementary protocols, whenever required”.

Millennium Bim integrates SeW    Millennium Bim integrates SeW

On his turn, Manuel Duarte Marecos, Chief Executive Officer from the Millennium BIM Group, emphasized that “corporate clients involved in international trade can from now on and more easily settle their rights, duties and tax obligations through the Millennium BIM banking channels, within the scope of the SeW project”.

On the other hand, Duarte also stressed that “it is with great pleasure that we announce that thanks to the technical solution of BIM, Mozambican companies involved in the international trade can now pay their taxes and customs duties without even leaving their office”.

Millennium Bim integrates SeW  Millennium Bim integrates SeW

It should be noted that this cooperation will allow national companies involved in the international trade, to pay their taxes and customs duties in Maputo, Beira and Nacala and within the technological capabilities of the Bank. Payments can be effected from the 150 branches present throughout the country and also through the automatic channels of the Millennium-BIM Internet, ATM, Millennium BIM line, among others.