Regulatory Alerts2014-09-15
Notice No. 06/2014 of September 15: Payment Systems of Angola - Provision of Payment Services
The Bank of Angola issued Notice No. 06/2014 to regulate the provision of payment services and establish the legal framework for payment service providers and payment subsystem operators in Angola. The notice defines five types of payment accounts, sets strict rules for electronic money issuance and redemption, and mandates operational responsibilities including the submission of standard manuals and adherence to international best practices. It further outlines exclusion criteria for low-risk services, requirements for subcontracting, and procedures for joining or canceling membership in payment subsystems.
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