Regulatory Alerts2024-12-19
Notice No. 05/2024 of 16 December
The National Bank of Angola issued Notice No. 05/2024 to establish binding terms and conditions for commercial banks providing safe deposit box rental and valuables custody services. The regulation mandates strict identification of lessees and authorized users, prohibits anonymous boxes, and requires written contracts detailing fees, liabilities, and termination procedures. Furthermore, it imposes a 10-year record-keeping obligation, quarterly reporting of leased boxes to the central bank, and centralized digital tracking of box access to ensure full compliance with anti-money laundering, counter-terrorism financing, and countering proliferation of weapons of mass destruction frameworks.
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