Regulatory Alerts1996-03-01
Notice No. 02/96 of March 1
The Banco Nacional de Angola issued Notice No. 02/96 to update the minimum share capital requirement for commercial, investment, and development banks. The regulation mandates that these institutions must be incorporated with a fully paid-in cash capital of at least KZR 140,000,000,000.00, which must be deposited with the central bank upon incorporation. This notice takes immediate effect and formally revokes the previous capital requirement set forth in Notice No. 05/95 of July 17.
NOTICE NO. 02/96 of March 1 Considering the need to update the minimum share capital of banking institutions provided for in Notice No. 01/92 of April 10; In exercise of the competence attributed to the Banco Nacional de Angola by Art. 10, No. 02, of Law No. 05/91 of April 20, I determine: Article 1 Point No. 01 of Article 12 of Notice No. 01/92 of April 10, published in the Diário da República No. 15, I Series, shall henceforth read as follows: "Commercial Banks, as well as Investment or Development Banks, may only be incorporated with a minimum share capital fully paid in cash of not less than KZR: 140,000,000,000.00 (One Hundred and Forty Trillion Adjusted Kwanzas), deposited with the Banco Nacional de Angola by the date of incorporation." Article 2 This Notice enters into force immediately and revokes Notice No. 05/95 of July 17. PUBLISH Luanda, March 1, 1996 THE GOVERNOR ANTÓNIO GOMES FURTADO