Regulatory Alerts2021-08-11
Circular Letter No. 01/DRO/2021 on the Opening of Bank Accounts Held by Supervised Entities
The Financial System Regulation and Organization Department requires supervised financial entities to obtain prior authorization from their respective supervisory authority when opening bank accounts, provided their corporate purpose covers activities under Law No. 14/21, Law No. 1/00, and the Securities Code. This mandate applies concurrently with compliance to Notice No. 10/2016 of June 18 and covers institutions regulated by the Central Bank of Angola, the Capital Markets Commission, and the Angolan Insurance Regulation and Supervision Agency. The directive standardizes account establishment procedures to ensure alignment with existing financial sector regulatory frameworks.
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