Regulatory Alerts1994-04-04
Instruction No. 1/94 on Banking Technical Norms
The National Bank of Angola issued Instruction No. 1/94 to mandate that financial institutions adhere to general principles of good banking practice, specifically prohibiting operations that violate selectivity, security, liquidity, or risk diversification, as well as practices like loan rollover with capitalized interest, unauthorized overdrafts, and dealings with non-compliant or insufficiently funded clients. The directive requires institutions to monthly report total risk assets, capital and reserve values, and detailed lists of their ten largest debtors and twenty largest depositors to the Banking Supervision Directorate. Non-compliance with these operational standards and reporting obligations constitutes a punishable offense under the Organic Law of the National Bank of Angola and the Financial Institutions Law.