Regulatory Alerts2021-08-01
Circular Letter No. 05/DCF/2021 – Financial System: Goodness Declaration in Income Domiciliation Process
The Banco Nacional de Angola mandates Commercial Banks to stop requiring a banking-sector non-debt (goodness) declaration for income domiciliation changes. Banks verifying client liabilities within the Financial System must instead query the BNA's Risk Information Central (CIRC), utilizing their existing internal access tools. This directive becomes effective upon publication, reducing administrative burdens while preserving credit risk oversight.
GOVERNOR CIRCULAR LETTER NO. 05/DCF/2021 SUBJECT: FINANCIAL SYSTEM
- Goodness Declaration in the Income Domiciliation Process. Having noted that Commercial Banks have conditioned the acceptance of income domiciliation changes on the submission of a non-debt declaration from the banking sector (goodness declaration), this Circular Letter guides Commercial Banks in the following measures: a) Adopting the non-requirement of submitting a non-debt declaration from the banking sector in income domiciliation changes; and b) If they need to verify clients' liability within the Financial System, they shall consult directly the Risk Information Central (CIRC) of BNA, given that they internally possess tools for such access. This Circular Letter enters into force on the date of its publication. Luanda, July 30, 2021. DEPARTMENT OF FINANCIAL CONDUCT
Osvaldo Manuel Pedro dos Santos -Director-
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