Regulatory Alerts2019-01-02
Instruction No. 02/2019 of January 3, 2019 - Subject: Financial System - Duty to Provide Information to Clients Regarding the Deposit Guarantee Fund
The National Bank of Angola issued Instruction No. 02/2019 to mandate Banking Financial Institutions under its supervision to clearly and visibly disclose the existence, coverage scope, and maximum reimbursement period of the Deposit Guarantee Fund to clients before, during, and after contract execution. Participating Institutions must maintain updated information at physical counters, electronic devices, and websites, ensuring transparency without exempting them from other existing disclosure obligations. Non-compliance constitutes a punishable offense under the Basic Law on Financial Institutions, with full adherence required within 90 days of publication.
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