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
Visa policy of Mozambique of diplomatic and service category passports issued to nationals of Angola, Argentina, Brazil, Cape Verde, China, Cuba, Guinea-Bissau, India, Portugal, Russia, Sao Tome and Principe, Seychelles, South Korea, Timor-Leste, Turkey do not require a visa for Mozambique. Visa waiver agreement for diplomatic passports was signed with in July 2018 and it is yet to come into force. Visa exemption agreement for diplomatic and service passports was signed with on 3 December 2018 and it is not yet ratified. Citizens of all countries can obtain a visa on arrival at all border posts if they have documentation to prove they are