Regulatory Alerts1997-01-01
Directive No. 12-DSB-1997, dated January 01
The Banking Supervision Directorate of the National Bank of Angola requires commercial banks to pay interest on demand deposits at a rate of 10% per annum, calculated daily and credited to depositors by the 10th day of the following month. Banks that have not yet complied with Article 10 of Notice No. 3/97 since its effective date must regularize their status by October 10, 1997. This directive enters into force immediately and standardizes passive interest rate calculations across the banking sector.
DIRECTIVE NO. 12/DSB/97 SUBJECT: PASSIVE INTEREST RATES
- Remuneration of Demand Deposits Pursuant to the directive of His Excellency the Governor of the National Bank of Angola, Commercial Banks shall comply with the provisions established in Article 10 of Notice No. 3/97 dated March 21, in point No. 1, which mandates the payment of interest due on demand deposits at a rate of 10% per annum, calculated daily. The calculated interest amount shall be credited to the accounts of depositors by the 10th day of the following month, corresponding to the month it relates to. Banks that have not yet complied with Article 10 of Notice No. 3/97 since its effective date must regularize their status by October 10, 1997. This Directive enters into force immediately. BANKING SUPERVISION DIRECTORATE
Share