Regulatory Alerts2022-05-06
Notice No. 12/2022 of May 4 on Minimum Share Capital and Regulatory Own Funds for Non-Bank Financial Institutions
The Bank of Angola issued Notice No. 12/2022 to establish the minimum share capital and regulatory own funds for non-bank financial institutions, specifically covering currency exchange companies, financial assignment and leasing societies, credit guarantee firms, and payment service providers. The regulation mandates fully paid-up capital with tiered minimums ranging from Kz 20 million to Kz 250 million based on institutional type and services, while requiring payment service providers to maintain special reserves for net worth strengthening or loss coverage. Non-compliance constitutes a punishable offence under the General Regime for Financial Institutions Law, and the notice repeals prior regulations while permitting capital increases through new share issuance or the capitalization of audited reserves.