Regulatory Alerts1993-11-29
Notice No. 13/93 of November 29
The Governor of the National Bank of Angola issued Notice No. 13/93 to update the minimum share capital requirement for commercial, investment, and development banks. The regulation amends Notice No. 1/92 by mandating that these institutions must hold a minimum capital of 26,000,000,000.00 New Kwanzas, fully deposited with the National Bank of Angola upon establishment. This notice takes immediate effect upon publication.
NOTICE NO. 13/93 OF NOVEMBER 29 Considering the need to update the minimum share capital of Banking Institutions provided for in Notice No. 1/92 of April 10; Pursuant to Article 10, paragraph 2, of Law No. 5/91 of April 20, I HEREBY DETERMINE: Article 1 Paragraph 1 of Article 1 of Notice No. 1/92 of April 10, published in the Official Gazette No. 15, First Series, shall be amended to read as follows: "Commercial banks, as well as Investment or Development banks, may only be established with a minimum share capital not less than the equivalent of NKZ 26,000,000,000.00 (Twenty-Six Million New Kwanzas), deposited with the National Bank of Angola by the date of establishment." Article 2 This Notice shall enter into force immediately.
PUBLISHED: LUANDA, NOVEMBER 20, 1993.- THE GOVERNOR GENEROSO HERMENEGILDO GASPAR DE ALMEIDA