Regulatory Alerts2011-12-19
Notice No. 16/2011 of December 19
The Central Bank of Angola issued Notice No. 16/2011 to establish comprehensive prudential, accounting, and disclosure regulations for authorized financial leasing companies. The notice mandates minimum capital and regulatory solvency ratios, caps investments at 15% of own funds, prohibits specific acts like third-party guarantees and related-party leasing, and prescribes detailed accounting treatments for lease investments, real estate, and impairment testing. Furthermore, it enforces strict quarterly reporting via XML to the Financial Institutions Supervision System, requires annual external audits, mandates data submission to the Information and Credit Risk Center, and imposes daily fines of 1% of minimum capital for late submissions.
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