Directive No. 06-DEF-DRO-2018, of November 11

THE GOVERNOR

DIRECTIVE NO. 06/DEF/DRO/2018
ORIGIN: FINANCIAL EDUCATION DEPARTMENT (DEF)
FINANCIAL REGULATION AND ORGANIZATION DEPARTMENT OF THE FINANCIAL SYSTEM (DRO) DATE 23/11/2018 SUBJECT: Amendment of the Remuneration Interest Rate for the Bankita à Crescer Product

Given the need to adjust the remunerative rate of the Bankita à Crescer deposit account, currently set at 7% per annum, and considering that under the Bankita Product Subscription Agreement established between the National Bank of Angola (BNA) and the subscribing Commercial Banks, the remuneration interest rate for the “Bankita à Crescer Savings” is established quarterly by the BNA; In accordance with the combined provisions of subparagraph f) of paragraph 1 of Article 21 and subparagraph d) of paragraph 1 of Article 51, both of Law No. 16/10 dated July 15, the National Bank of Angola Law; This Directive serves to establish the following:

1. The interest rate for the time deposit account named Bankita à Crescer Deposit is amended to 12.5% per annum.
2. Commercial Banks must provide information regarding the aforementioned interest rate to customers and potential customers in a true, current, and unambiguous manner, with such information expressed in clear and objective language.
3. Commercial Banks must systematically maintain the aforementioned information at all counters and public service locations, in a highly visible and directly accessible place, using an easy and direct consultation device, including its publication via electronic means.

DIRECTIVE NO. 06 / DEF/DRO/2018 Page 2 of 2
4. The interest rate of 12.5% per annum applies to deposits established after the effective date of this Directive.
5. Non-compliance with the mandatory provisions of this Directive is punishable under Law No. 12/15, dated June 17 - Framework Law of Financial Institutions.
6. Doubts and omissions arising from the interpretation and application of this Directive are resolved by the National Bank of Angola.
7. Directive No. 01/DSC/2014, dated July 15, is hereby revoked.
8. This Directive enters into force on the date of its publication.
Luanda, November 23, 2018.
FINANCIAL EDUCATION DEPARTMENT

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Margareth Lopes Leite Velho da Silva
Deputy Director
FINANCIAL REGULATION AND ORGANIZATION DEPARTMENT OF THE FINANCIAL SYSTEM _________________________ Carla Marisa Rodrigues Madeira Gomes Director