Regulatory Alerts1996-04-17
Notice No. 06/96 of April 17
Issued by the Governor of the Banco Nacional de Angola, Notice No. 06/96 imposes strict regulatory caps on credit institutions' equity investments to mitigate insolvency, liquidity, and conflict-of-interest risks. The directive limits direct or indirect shareholdings in non-financial companies to 15% of a bank's own funds, restricts aggregate qualified holdings to 60%, and prohibits voting rights exceeding 25% for periods over three years, while simultaneously capping non-financial shareholder stakes in credit institutions at 15%. It formally defines qualified, indirect, and non-financial participations, establishes own funds calculation references, and mandates full regulatory compliance by May 31, 1996.
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