Regulatory Alerts2017-07-10
Notice No. 05/2017 of July 10: Regulation of Payment Cards and Multicaixa Network
The Bank of Angola issued Notice No. 05/2017 to regulate the issuance, acceptance, and use of payment cards and the functioning of the Multicaixa subsystem within Angola's Payment System. The regulation defines the exclusive roles of banking financial institutions and payment service providers, while establishing specific authorization requirements for non-bank entities and restricted-use cards. It mandates strict contractual standards, including consumer protection clauses, anti-money laundering compliance, and detailed definitions for all market participants and instruments.
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