Regulatory Alerts2023-04-06
Letter – Circular No. 04/2023
The Central Bank of Angola has updated regulations for bank accounts held by minors, permitting the issuance of debit cards from age 14 with daily transaction limits agreed upon by legal representatives. These cards must be issued directly in the minor's name, and minors reaching 18 years of age are required to contact their commercial banks to formally update their account status, after which legal representatives lose operational authority. Any ambiguities regarding these provisions will be resolved by the Central Bank, and the circular takes effect upon publication.
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