Regulatory Alerts2016-02-19
Regulation (NAP) - Rules and Procedures for the Banking Service Tariff
The Central Bank of São Tomé and Príncipe issued this Permanent Implementation Standard to establish mandatory rules and procedures for banking institutions regarding the amendment, disclosure, and transparency of their service tariffs. It requires institutions to maintain complete, accurate, and accessible pricing lists detailing commissions, interest rates, and charges, while mandating clear contractual information delivery at least 30 days prior to client commitment or tariff changes. The regulation enforces continuous supervisory evaluation, imposes sanctions for non-compliance, and standardizes the structure of commission and interest rate leaflets to enhance consumer financial literacy and protection.
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