Regulatory Alerts2011-06-01
Notice No. 02-2011 of June 1
The Banco Nacional de Angola issued Notice No. 02-2011 to establish comprehensive consumer protection rules for financial institutions operating under its jurisdiction. The regulation mandates strict conduct standards, including non-discrimination, priority service for vulnerable groups, robust information security, and transparent advertising practices. It further defines precise complaint resolution timelines ranging from 30 to 60 days, establishes institutional liability for operational errors, and grants a transitional compliance period of up to 180 days.
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