Bank of Mozambique created Government of Mozambique took over, without compensation, the Mozambican operations of Banco Nacional Ultramarino, a Portuguese colonial bank that had been acting as the bank of issue for the colony. This became the nucleus of Bank of Mozambique. In 1977 the government also nationalized almost all banks in the country, including the Casa Bancária de Moçambique, and the Mozambican operations of Banco de Crédito, Comercial e Industrial and Banco Comercial de Angola, and merged them into Bank of Mozambique. At the same time it closed the operations of Banco de Fomento Nacional and Banco Pinto e Sotto Mayor. (The
Brazil–Uruguay relations Brazil–Uruguay relations Brazil–Uruguay relations encompass many complex relations over the span of three centuries, beginning in 1680 with the establishment of the Colônia do Sacramento, to the present day, between the Federative Republic of Brazil and the Oriental Republic of Uruguay. Brazil and Uruguay are neighbouring countries in South America, and share close political, economic and cultural ties. The singularity of the bilateral relationship between the two countries originates from a strong historical connection – marked by important events, such as the establishment of the "Colônia do Sacramento" in 1680, the invasion of the "Banda Oriental" by Brazil in 1815