Regulatory Alerts2019-08-11
Instruction No. 11/2019, dated August 28
The National Bank of Angola issued Instruction No. 11/2019 to mandate Banking Financial Institutions to adopt specific accounting and prudential procedures for measuring credit losses in line with IFRS 9. The directive defines key terms such as expected credit losses and effective interest rates, requiring institutions to calculate regulatory capital using the higher of either a standard methodology or IFRS 9 impairment requirements. Institutions must achieve full compliance within 180 days of publication, with non-compliance subject to administrative sanctions under the Framework Law for Financial Institutions.
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