Regulatory Alerts2022-08-01
Instruction No. 08/2022, of August 1
The National Bank of Angola issued Instruction No. 08/2022 to mandate that commercial banks base credit card issuance and limit determinations on thorough customer credit risk assessments and financial capacity. The regulation requires banks to clearly inform customers when collateral is mandatory, ensure collateral values do not exceed issued limits, and remunerate those deposits at prevailing passive interest rates. Non-compliance with these operational rules is enforceable under the General Regime for Financial Institutions Law, which takes effect the day following publication.
Share