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 Montevideo. Uruguay has supported the Brazilian bid for a permanent seat at the United Nations Security Council. The Spanish arrived in the territory of present-day Uruguay in 1516, but the people's fierce resistance to conquest, combined with the absence of gold and silver, limited settlement in the region during the 16th and 17th centuries. Uruguay became a zone of contention between the Spanish and the Portuguese empires. In 1603 the Spanish began to introduce cattle, which became a source of wealth in the region. The first permanent settlement on the territory of present-day Uruguay was founded by the Spanish in