Regulatory Alerts2020-04-19
Instruction No. 07/2020 of April 20
The National Bank of Angola issued Instruction No. 07/2020 to establish minimum service levels and maximum response times for banking financial institutions granting credit. The directive mandates standardized application procedures, including product sheets and checklists, alongside strict internal timeframes for analysis, decision communication, contract formalization, and credit availability across various loan categories. Non-compliance triggers regulatory sanctions, while clients retain the right to file direct complaints with the central bank regarding procedural breaches.
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