Regulatory Alerts2022-11-23
Instruction No. 13/2022 of 22 November
The Bank of Angola issued Instruction No. 13/2022 to mandate Banking and Non-Banking Financial Institutions under its supervision to submit annual corporate governance and internal control reports on both individual and consolidated group bases. The directive prescribes detailed structural requirements, including risk management frameworks, internal audit functions, executive committee operations, and specific deficiency reporting, all supported by standardized templates and questionnaires. Non-compliance with these mandatory provisions constitutes a punishable infraction under the General Regime for Financial Institutions Law, with interpretative disputes resolved directly by the Bank of Angola.
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