Regulatory Alerts2013-07-09
Notice No. 10/2013 of July 9 on the Acquisition or Increase of Qualified Participations in Financial Institutions
The Bank of Angola issued Notice No. 10/2013 to establish requirements and procedures for the acquisition or increase of qualified participations in financial institutions, as well as for their mergers or demergers. The regulation mandates prior authorization for transactions crossing specific ownership thresholds or involving non-residents, while defining detailed calculation methods for qualified participations and strict criteria for merger approvals. Compliance with approved business plans is enforced for three years post-acquisition, and violations are subject to sanctions under the Financial Institutions Law.
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