Regulatory Alerts2021-09-02
Directive No. 09-DSP-DCF/2021, of September 14
The Bank of Angola, through its Payment Systems and Financial Conduct Departments, mandates that commercial banks maintain ATM cash availability at no less than 95% during normal business hours from the 25th to the 5th of each month and on Saturdays until noon, while also extending branch operating hours—including Saturdays—whenever necessary to accommodate public sector salary payments. Banks must clearly publish these extended schedules on their websites and in-branch, report them to the central bank per Notice No. 12/2016, and ensure full compliance by September 15, 2021. Non-compliance with these operational standards and the overarching duty to deliver quality customer service is subject to penalties under Law No. 14/21 of May 19, with this Directive taking immediate effect upon issuance.