2011-07-15

Notice No. 07/2011, of July 15

The Bank of Angola issued Notice No. 07/2011 to establish supplementary rules and minimum operational requirements for micro-credit companies, aligning Angolan financial regulations with international standards. The notice mandates a minimum share capital of Kz 2,500,000.00 and a prior deposit of 5%, while detailing comprehensive authorization application requirements, risk-based credit provisioning tables, and quarterly reporting obligations. Furthermore, it imposes external audit mandates, corporate governance standards, and a 12-month transitional compliance period for existing entities.

Angola

Banco Nacional de Angola

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