Regulatory Alerts1991-11-14
Notice No. 05/91 of 15 November
The National Bank of Angola issued Notice No. 05/91 to modernize interest rate structures in response to national economic demands and the implementation of a two-tier financial system. The regulation mandates zero interest on current accounts, caps time deposit rates between 8% and 14% annually based on maturity, and restricts early withdrawals to periods exceeding half the term with a proportional rate reduction. Additionally, it sets central bank rediscount rates at 15–17%, caps short-term lending at 20% annually, imposes a 1% annual fee on unused medium- and long-term credit, and applies a 5% annual penalty on overdue debts.
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