Regulatory Alerts2024-12-20
Operational Rules and Prudential Requirements for Microfinance Financial Institutions (Notice No. 08/2024 of December 20)
The Banco Nacional de Angola issued Notice No. 08/2024 of December 20, 2024, to establish operational rules and prudential requirements for Microfinance Financial Institutions (IFMs) in Angola. The regulation mandates specific deposit and credit limits per client, defines Level 1 and Level 2 own funds composition, and requires a minimum Regulatory Solvency Ratio of 12% alongside a 3% leverage ratio. Furthermore, it imposes comprehensive risk governance obligations, including liquidity, interest rate, and operational risk management, standardized reporting, and strict corporate governance standards to ensure financial stability and inclusive growth.
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