Regulatory Alerts2020-02-28
Notice No. 04/2020 of 28 February
The National Bank of Angola issued Notice No. 04/2020 to centralize and standardize credit risk data management through its Credit and Risk Information Center (CIRC). The regulation mandates all banking and non-banking financial institutions, including credit cooperatives, factoring companies, leasing firms, microfinance entities, and foreign branches in Angola, to electronically submit actual and potential credit liabilities, second-time bounced checks, and related guarantees. It establishes strict confidentiality rules, free client access to registered records, cost-sharing mechanisms, and civil or penal sanctions for non-compliance or inaccurate reporting.
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