Regulatory Alerts2012-03-29
Notice No. 05/2012 of March 29
The Bank of Angola issued Notice No. 05/2012 to establish comprehensive consumer protection rules for all regulated financial institutions operating in Angola. The regulation mandates strict conduct standards, including non-discrimination, priority service for vulnerable groups, robust information security, and transparent advertising practices. It further outlines detailed complaint handling procedures with strict resolution timeframes of 30 to 60 days, imposes institutional liability for operational errors, and grants a transitional compliance period of up to 180 days.
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