Regulatory Alerts2021-02-26
Guideline No. 05/2021 of February 26
The National Bank of Angola issues Guideline No. 05/2021 to standardize the reporting, reconciliation, and online access of financial, accounting, and risk data concerning effective and potential credit liabilities through the Credit Risk Information Center (CIRC). Financial Institutions must submit monthly operational files by the 8th day, ensure timely rectification of borrower and guarantor data, and provide written notifications regarding credit decisions based on CIRC records. The Guideline mandates a 30-day transitional compliance period, establishes clear claims processing timelines of up to 15 business days, and imposes sanctions for non-compliance under the Framework Law for Financial Institutions.
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