Regulatory Alerts2022-02-08
Notice No. 2/2022 of February 2
The Bank of Angola issued Notice No. 2/2022 to align the regulatory framework for payment services, establishing clear access rules, definitions, and operational conditions for Payment Service Companies and authorized institutions. The Notice mandates the creation of prepaid and postpaid payment accounts, defines exclusive service scopes, credit granting limits, and user identification procedures, while exempting specific cash-based and securities-linked operations. It further reserves key terminology for authorized entities, requires prior regulatory approval for service alterations, and ensures that received funds are treated as fiduciary rather than traditional deposits.
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