Regulatory Alerts2014-03-20
Notice No. 02/2014 of 20 March on General Information Duties in the Provision of Financial Services and Products
The National Bank of Angola issued Notice No. 02/2014 to establish minimum information and pricing disclosure requirements for banking financial institutions operating in the country. The regulation mandates that institutions maintain updated, transparent Pricing tables detailing commissions, expenses, and interest rates, while ensuring clients receive clear, complete, and timely information before, during, and after contract execution. Financial institutions are legally responsible for the accuracy of this data, must report pricing changes to clients at least thirty days in advance, and face penalties under the Financial Institutions Law for non-compliance.
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