Regulatory Alerts2022-10-11
Notice No. 18/2022 of 11 October on the Expansion of the Banking Network
The National Bank of Angola issued Notice No. 18/2022 to mandate the expansion of the banking network by requiring systemically important financial institutions, and permitting others, to establish at least one service point in every municipal headquarters across the country. The regulation defines fixed counters, mobile counters, banking agents, and self-service centres as valid modalities, while allowing institutions to determine operating hours, share counters, and deduct counter cash from mandatory reserve requirements. Financial institutions must achieve full compliance with these network expansion rules by 30 June 2023, subject to sanctions under the General Regime for Financial Institutions Act.
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