Regulatory Alerts2013-07-08
Notice No. 09/2013 of June 10 on the Processing of Authorization Applications for the Establishment of Banking Financial Institutions
The National Bank of Angola issued Notice No. 09/2013 to establish standardized requirements and procedures for authorizing the establishment of banking financial institutions, including foreign branches, subsidiaries, and representative offices operating in or from Angola. The regulation mandates detailed documentation, prudential supervision on individual or consolidated bases, and strict compliance with approved business plans during the first three financial years. It further defines clear authorization timelines, conditions for revocation, and transitional measures to align pending applications with the updated regulatory framework.
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