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Standard Bank prepares accession to SEW

Standard Bank prepares accession to SEW

12 March 2012

A team from Standard Bank composed of officials from different areas such as Foreign Operations, Information Technology and Trade, held on 12 March, 2012, a visit to the Port of Maputo in order to prepare for the accession of their financial institution to the payment process of customs tariffs via commercial banks. The visit was also aimed to understand the features of the SEW with regards to procedures related to the process of collection of customs revenue.

On the ground, the team was able to testify that the major innovation in the implementation of the Single Electronic Window systems (SEW) that aims to facilitate trade is the introduction of payment of customs charges via commercial banks.

With this measure, Customs are professionalizing themselves in their clearance activity in the sense that the cease to deal with monetary values, thereby reducing the risk involved, concentrating in only in customs procedures.

Importers in turn, will have their goods cleared in less time because they can, if they are willing to, use the facility provided by banks such as E-banking to make the payments of customs tariffs.