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
Community of Portuguese Language Countries just south of Angola. Three European nations, the Czech Republic, Hungary, and Slovakia, were admitted as observers along with Uruguay at the 2016 summit. Uruguay has historical ties to neighbouring Brazil and has some speakers of Portunol, a Spanish-Portuguese mixture. In January 2018 and prior to the 2018 summit, Italy requested the observer status as effort for the consolidation of bilateral relations with all of the Portuguese-speaking countries. In its request, the Italian government referred that due to the increasing number of associated observers in the community, CPLP is becoming a forum for countries in various geographical regions. Earlier in