Circular Letter No. 01/DRO/2021 on the Opening of Bank Accounts Held by Supervised Entities

CIRCULAR LETTER NO. 01/DRO/2021
SUBJECT: FINANCIAL SYSTEM

• Opening of Bank Accounts Held by Supervised Entities

WHEREAS for the financial sector, the exercise of activity presupposes prior authorization by the respective supervisory authority, namely, (i) the Central Bank of Angola, (ii) the Capital Markets Commission, and (iii) the Angolan Insurance Regulation and Supervision Agency;

This Circular Letter serves to guide that the opening of bank accounts for entities whose corporate purpose includes activities stipulated in Law No. 14/21 of May 19 – General Regime for Financial Institutions Law, in Law No. 1/00 of February 3 – General Insurance Activity Law, as well as in the Securities Code, must include authorization of establishment by the respective supervisory authority, without prejudice to compliance with the requirements set forth in Notice No. 10/2016 of June 18.

Luanda, August 12, 2021
FINANCIAL SYSTEM REGULATION AND ORGANIZATION DEPARTMENT

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Carla Marisa Rodrigues Madeira Gomes

• Director -