Regulatory Alerts2023-08-03
Notice No. 09/2023 of August 3 on Housing Credit
The National Bank of Angola issued Notice No. 09/2023 to establish mandatory special regimes for housing and construction credit, capping maximum loan values at Kz 100 million and setting nominal interest rate ceilings of 7% for housing and 10% for construction until mid-2027. The regulation mandates systemically important commercial banks to apply strict eligibility criteria, risk assessment procedures, and capped commissions while granting these credits exclusively as the primary security for residential properties. Furthermore, it introduces favorable mandatory reserve deductions of up to 100% for housing and 50–75% for construction, alongside standardized reporting and a validity period extending to June 2027.
Share