Regulatory Alerts2020-06-21
Notice No. 15/2020 of 22 June on the Pricing and Disclosure of Financial Services and Products
The National Bank of Angola issued Notice No. 15/2020 to mandate Financial Institutions to disclose a complete, standardized Pricing Schedule detailing fees, charges, interest rates, and exchange rates for all financial products and services. The regulation requires institutions to publish updated pricing in physical branches, on websites without registration barriers, and via consultation devices, while ensuring that any unilateral price adjustments are communicated to customers at least thirty days in advance. Financial Institutions bear full responsibility for the accuracy and currency of this disclosed information, with non-compliance subject to penalties under the Framework Law for Financial Institutions and a mandatory 90-day transitional compliance period.