Regulatory Alerts2016-03-08
Notice on Fee Schedules (Page 396) No. 1/13 of April 12
The Bank of Cape Verde issued Notice No. 1/2013 to modernize the regulatory framework governing fee schedules and information disclosure for credit and para-banking institutions. The notice mandates standardized, transparent fee schedules comprising commission/expense and interest rate leaflets, which must be publicly accessible online and in branches. It establishes strict duties for institutions to provide prior cost information, assist clients during negotiations, prohibit unlisted or excessive commissions, and offer designated free banking services to enhance national financial inclusion.
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