MAPUTO, June 16 (Xinhua) -- Mozambique's central bank is drafting regulations on the use of artificial intelligence (AI) in the country's financial system to strengthen oversight and address technological risks, Central Bank Governor Rogerio Zandamela said on Tuesday.
Speaking at the opening of the 17th Scientific Conference of the Bank of Mozambique in Matola City, Maputo Province, Zandamela said AI is increasingly visible in financial institutions, decision-making processes and people's daily lives.
"Artificial intelligence is no longer confined to laboratories, universities or major technology companies," he said.
According to Zandamela, the planned regulations aim to create clear rules to ensure AI tools are used safely, transparently and responsibly, while respecting consumers' rights.
He said AI could help promote financial inclusion, modernize financial services, speed up transactions, improve customer service and strengthen fraud prevention. It could also support monetary policy analysis, macroeconomic forecasting, financial stability monitoring and sector supervision.
Zandamela said the Bank of Mozambique has already approved its own Artificial Intelligence Policy, and some financial institutions in the country have started adopting AI-based solutions. ■