Regulatory Alerts2010-10-04
Banco Nacional de Angola Notice No. 01/2010 of October 4
The Banco Nacional de Angola issued Notice No. 01/2010 to centralize and standardize the Credit Information and Risk Center (CIRC), mandating all supervised financial institutions to electronically report credit operations, potential liabilities, and associated risks. The regulation establishes precise definitions for credit risk and effective liabilities, guarantees free access for natural and legal persons to their own registered data, and enforces strict confidentiality by prohibiting the disclosure of granting institutions' names. Non-compliance with updated reporting requirements results in restricted CIRC access and civil or penal sanctions, while the Notice repeals conflicting prior provisions and takes effect thirty days after publication.