Regulatory Alerts2007-01-03
Regulation (NAP) - Standard on Qualification of Administrators
The Central Bank of São Tomé and Príncipe issued this Permanent Application Standard to establish mandatory qualification, suitability, and professional experience criteria for administrators of financial institutions. It mandates that candidates hold higher education, demonstrate at least five to seven years of banking or managerial experience, maintain clean criminal and institutional records, and satisfy specific role-based requirements for management and supervisory positions. The regulation further outlines a 30-day approval procedure, allows partial waivers by the Administrative Council for non-mandatory criteria, and restricts the cumulative holding of management roles across financial entities.
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