Regulatory Alerts1995-01-09
Notice No. 1/95 of January 9
Issued by the Angolan banking regulatory authority, this notice updates the minimum share capital requirement for commercial, investment, and development banks. It mandates that all such institutions must be established with a fully paid-in cash capital of at least 2.4 trillion Kwanzas (NKZ:2.400.000.000.000,00), deposited at the National Bank of Angola by the date of incorporation. The regulation enters into force immediately and formally repeals Notice No. 10/95 of September 15.
NOTICE NO. 1/95 OF JANUARY 9 Considering the need to update the minimum share capital of Banking Institutions provided for in Notice No. 1/92 of April 10; Under the terms of Article 10, paragraph 2, of Law No. 5/91 of April 20; I DETERMINE:
Article 1 Point 1 of Article 1 of Notice No. 1/92 of April 10, published in the Official Gazette No. 15, 1st Series, shall be amended to read as follows: "Commercial banks, as well as Investment or Development banks, may only be established with a minimum share capital fully paid in cash not less than NKZ:2.400.000.000.000,00 (Two trillion and four hundred billion Kwanzas), deposited at the National Bank of Angola by the date of establishment." This Notice enters into force immediately and repeals Notice No. 10/95 of September 15. Luanda, January 9, 1955.
PUBLISH
LUANDA, JANUARY 9, 1995.- GENEROSO HERMENEGILDO GASPAR DE ALMEIDA