Regulatory Alerts2019-02-20
Directive No. 02-DEE-DSP-DRO-2019, dated February 21
The Governor of the Central Bank of Angola, through its Payments System and Financial System Regulation Departments, issued Directive No. 02-DEE-DSP-DRO-2019 to mandate a minimum twenty-four-month validity period for all payment cards, printed until the last day of the indicated month. Issuing financial institutions must ensure their card clauses align with minimum usage conditions, personalize cards by registering and managing holder identification, and replace non-personalized cards within two months of issuance. Non-compliance triggers penalties under Angolan payment and financial institution laws, with the Central Bank of Angola retaining authority to resolve interpretive disputes.
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