Regulatory Alerts2021-07-13
Notice No. 10/2021 of June 18 on the Corporate Governance Code for Financial Institutions
The Banco Nacional de Angola issued Notice No. 10/2021 to regulate corporate governance and internal control standards for banking and non-banking financial institutions under its supervision. The notice establishes minimum requirements for organizational structure, risk appetite, independence of directors, and remuneration policies while mandating periodic reviews and transparent reporting to ensure financial stability. It further details the roles of governing bodies, internal control functions, and compliance mechanisms to mitigate conflicts of interest and align institutional operations with strategic objectives.
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