Regulatory Alerts2020-04-23
Circular Letter No. 001/DCF/2020
The National Bank of Angola’s Department of Financial Conduct clarifies that financial institutions are exempt from licensing contract models and technical information sheets for financial products and services, but must submit them to the regulator. Institutions bear full responsibility for ensuring compliance with existing regulations and are liable for any non-compliance or inconsistencies identified through the BNA’s own-initiative reviews or client complaints. This directive streamlines product development by granting institutions greater operational flexibility while maintaining regulatory oversight through targeted BNA intervention only upon detected sector violations.
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