Regulatory Alerts1993-04-13
Notice No. 05/93 of April 14
The Governor of the National Bank of Angola issues this notice to update the minimum share capital requirement for Commercial, Investment, and Development Banks established under Notice No. 1/92. The regulation mandates that these institutions must maintain a minimum share capital of at least NKZ 16,000,000,000 (Sixteen Billion New Kwanzas), fully deposited at the National Bank of Angola by their date of incorporation. This notice enters into force immediately, superseding the previous capital thresholds outlined in the April 1992 directive.
NOTICE NO. 05/93 OF APRIL 14 Considering the need to update the minimum share capital of Banking Institutions provided for in Notice No. 01/92 of April 10; Under the terms of Article 10, paragraph 2, of Law 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, 1st series, of 1992, shall henceforth 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 16,000,000,000 (Sixteen Billion New Kwanzas), deposited at the National Bank of Angola by the date of incorporation. Article 2 This Notice shall enter into force immediately. PUBLISH Luanda, April 14, 1993 THE GOVERNOR
GENEROSO HERMENEGILDO GASPAR DE ALMEIDA