Regulatory Alerts2022-10-20
Circular Letter No. 09/2022, dated October 20, 2022
The Banco Nacional de Angola mandates Banking Financial Institutions to submit a replacement matrix for Board of Directors and Executive Committee members, including substitute contact details, by October 31, 2022. Institutions must continuously update this matrix whenever administrative body members change or become impeded, reporting such updates within two business days of the triggering event. Any ambiguities arising from these requirements are resolved by the central bank, and this circular takes effect upon publication.
CIRCULAR LETTER NO. 09/2022 SUBJECT: FINANCIAL SYSTEM
- Replacement Matrix for Members of the Board of Directors and Executive Committee Where it is necessary to submit to the Banco Nacional de Angola the replacement matrix for members of the administrative bodies of Banking Financial Institutions, actively performing their duties within Angolan territory, in accordance with the combined provisions of Article 49 of Law No. 14/21, dated May 19, General Regime for Financial Institutions Law, and Articles 414 and 439 of Law No. 1/04, dated February 13, Commercial Companies Law; Within the scope of the information duty, established in sub-paragraph i) of paragraph 1 of Article 235 of Law No. 14/21, dated May 19, the Banco Nacional de Angola directs to Banking Financial Institutions the following:
- Submit to the Banco Nacional de Angola, by October 31, 2022, the replacement matrix for members of the Board of Directors and Executive Committee, applicable during their absence or impediment.
- For the purposes of the preceding paragraph, the information must include the phone number and email address of the substitute member.
- Banking Financial Institutions must update the information referred to in the preceding paragraphs, whenever changes occur among members of the administrative bodies.
- Banking Financial Institutions must submit updates to the information referred to in the preceding paragraph, within a period of 2 (two) business days, calculated from the date of changes to members of the administrative bodies, or whenever any member of the administrative bodies is impeded from exercising their duties.
CONTINUATION OF CIRCULAR LETTER NO. 09/2022 page 2 of 2 5. Doubts and omissions resulting from the above are resolved by the Banco Nacional de Angola. 6. This Circular Letter enters into force on the date of its publication. Luanda, October 20, 2022. DEPARTMENT OF REGULATION AND ORGANIZATION OF THE FINANCIAL SYSTEM
Carla Marisa Madeira Gomes -Director-