Regulatory Alerts2012-08-14
Notice No. 25/2012 of 14 August on Banking Correspondents
The Bank of Angola issued Notice No. 25/2012 to establish regulatory rules for banking institutions engaging banking correspondents to extend financial services, particularly in rural areas. The notice defines strict eligibility criteria, prohibited activities, and operational requirements for correspondents, including mandatory training, technology standards, and transparency obligations. It further outlines supervisory reporting duties, anti-money laundering compliance, and the grounds for terminating correspondent activities.
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