Regulatory Alerts1994-01-02
Notice No. 1/94 of January 3, 1994
The Banco Nacional de Angola issued Notice No. 1/94 to regulate the issuance of debit cards, requiring prior authorization from the central bank for any entity wishing to issue them. The directive restricts debit card issuance exclusively to commercial banks and quasi-banking institutions whose corporate bylaws explicitly permit such activities, while mandating that cards be used solely within Angola for national currency transactions. Furthermore, it obligates issuing institutions to establish standard usage terms and irregular use conditions for central bank approval, ensuring strict oversight and prevention of unauthorized card utilization.
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