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
United Nations General Assembly Resolution 47/1 Mauritania, Micronesia, Moldova, Mongolia, Morocco, Nepal, Netherlands, New Zealand, Nicaragua, Niger, Nigeria, Norway, Oman, Panama, Pakistan, Paraguay, Peru, Philippines, Poland, Portugal, Qatar, Romania, Russian Federation, Rwanda, Saint Kitts and Nevis, Saint Vincent and the Grenadines, Samoa, San Marino, Saudi Arabia, Senegal, Singapore, Slovenia, South Korea, Spain, Sudan, Sweden, Suriname, Thailand, Trinidad and Tobago, Tunisia, Turkey, Turkmenistan, Ukraine, United Arab Emirates, United Kingdom, United States, Uruguay, Vanuatu, Yemen. Against Kenya, Swaziland, Tanzania, Yugoslavia, Zambia, Zimbabwe. Abstentions Angola, Bahamas, Botswana, Brazil, Burundi, Cameroon, China, Cuba, Ghana, Guyana, India, Iraq, Ivory Coast, Jamaica, Lebanon, Lesotho, Mexico, Mozambique, Myanmar, Namibia, Papua New Guinea, Sri