Regulatory Alerts1994-05-01
Notice No. 8/94 of May 2, 1994
The Governor of the National Bank of Angola issues this notice to update the minimum share capital requirement for Commercial, Investment, and Development Banks to NKZ:280.000.000.000.00 (two hundred and eighty billion New Kwanzas). This capital must be fully paid in cash and deposited at the National Bank of Angola by the date of the institution's establishment. The notice enters into force immediately and repeals Notice No. 13/93 of December 24, 1993.
NOTICE NO. 8/94 of May 2, 1994 Considering the need to update the minimum share capital of Banking Institutions provided for in Notice No. 1/92 of April 10; Pursuant to Article 10, paragraph 2, of Law No. 5/91 of April 20; I HEREBY DETERMINE: Article 1 Paragraph 1 of Article 1 of Notice No. 1/92 of April 10, published in the Official Gazette No. 15 of the First Series, shall henceforth read as follows: "Commercial Banks, as well as Investment or Development Banks, may only be established with a minimum share capital fully paid in cash not less than NKZ:280.000.000.000.00 (two hundred and eighty billion New Kwanzas), deposited at the National Bank of Angola by the date of their establishment." Article 2 This Notice enters into force immediately and repeals Notice No. 13/93 of December 24. PUBLISH LUANDA, MAY 2, 1994.- THE GOVERNOR
GENEROSO HERMENELGILDO GASPAR DE ALMEIDA