Former Mozambican finance minister Manual Chang has had his bail application postponed to January 18 by the Kempton Park Magistrate's Court.

The postponement was granted to give his defence time to peruse an indictment detailing charges related to crimes that the US alleges he committed and to review the validity of Chang's warrant of arrest pending an application for extradition.

Chang would also like to fight the National Prosecuting Authority's intended use of schedule 5 for his bail application under the Criminal Procedure Act.

READ: Former Mozambican finance minister's arrest was lawful - court

Magistrate Sagra Subroyen on Tuesday ruled that Chang's arrest was lawful.

Chang was on his way to Dubai when he was intercepted at the OR Tambo International Airport on December 30 in terms of a US warrant of arrest.

The US justice department claims that Chang and his alleged co-conspirators arranged more than $2bn (R27.8bn) in fraudulent loans from international investment banks to state entities, purportedly controlled by the Mozambican government.

Chang stands accused of conspiracy to commit wire and securities fraud and conspiracy to commit money laundering.

The former minister remains behind bars until his next appearance as his bid to fight extradition continues.

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