Notice No. 14/2013 of November 15 on the Adjustment of Minimum Share Capital and Regulatory Own Funds of Banking Financial Institutions

Published in the Official Gazette of the Republic, First Series, No. 231, on December 2 NOTICE NO. 14/2013 of November 15 SUBJECT: ADJUSTMENT OF MINIMUM SHARE CAPITAL AND REGULATORY OWN FUNDS OF BANKING FINANCIAL INSTITUTIONS Whereas it is necessary to adjust the framework for the minimum values of share capital and regulatory own funds of banking financial institutions subject to the supervision of the Central Bank of Angola, as established by Notice No. 04/07 of September 12; Pursuant to the combined provisions of paragraphs d) and f) of paragraph 1 of Article 21, and paragraph 1 of Article 51, both of Law No. 16/10 of July 15 – the Central Bank of Angola Act, combined with the provisions of the Financial Institutions Law; IT IS HEREBY DETERMINED:
Article 1.
(Minimum share capital of banking financial institutions) Banking financial institutions authorized to operate by the Central Bank of Angola must have their share capital fully paid up in national currency, as well as maintain the share capital and regulatory own funds (ROF) at a minimum value of Kz. 2,500,000,000.00 (Two billion five hundred million Kwanzas).
Article 2.
(Adjustments)
Banking financial institutions in operation, whose share capital and regulatory own funds are below the minimum established in the preceding article, must carry out the adjustment by June 30, 2014
Article 3.
(Repeal provision)
Paragraph a) of paragraph 1 of Article 1 of Notice No. 04/07 of September 12 is hereby repealed.
Article 4.
(Entry into force)
This Notice enters into force on the date of its publication.
PUBLISHED
Luanda, November 15, 2013.
THE GOVERNOR
JOSÉ DE LIMA MASSANO