Regulatory Alerts2024-07-24
Circular Letter No. 03/2024, dated July 24
The Banco Nacional de Angola mandates all authorized Banking Financial Institutions to develop and implement a Crisis Prevention and Management Manual alongside Bank Resolution Planning. The directive requires institutions to systematically identify risks, define crisis team responsibilities, establish restructuring procedures and legal tools, conduct regular crisis simulations, and maintain clear communication channels to ensure financial stability and business continuity. By enforcing these operational standards, the circular ensures that distressed institutions can effectively mitigate negative impacts on the real economy and maintain solvency through structured crisis response frameworks.
Share