Regulatory Alerts2021-10-05
Directive No. 11/DSB-DRO of 2021, dated October 5
The National Bank of Angola, through its Banking Supervision and Financial System Regulation Departments, issued Directive No. 11/DSB-DRO of 2021 to establish standardized criteria and procedures for Business Continuity Management (BCM) across supervised financial institutions. The directive mandates the integration of BCM into organizational structures and risk management frameworks, requiring institutions to submit an implementation action plan within three months and achieve full compliance within six months. It defines key operational concepts, assigns clear governance responsibilities to the board of directors, and outlines recovery strategies, testing protocols, and communication channels necessary to ensure operational resilience against disruptions.