Regulatory Alerts2022-04-07
Notice No. 10/2022 of April 6 on the Granting of Credit to the Real Sector of the Economy
The Bank of Angola issued Notice No. 10/2022 to mandate Commercial Banks to extend credit to the real economy's essential cultivation and production sectors under strict terms and conditions. The regulation caps total credit costs at 7.5% annually for investments and 10% for working capital, while establishing minimum disbursement quotas and mandatory reserve deductions based on banks' net assets. Banks must adhere to a comply-or-explain framework, reporting annually on their lending performance and facing sanctions for unmet targets or non-compliance with risk assessment and reporting obligations.
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