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2023-01-13

Directive No. 01/GAC/2023

The Credit Monitoring Office (GAC) of the National Bank of Angola mandates that banking financial institutions submit weekly credit application reports through the Credit Information and Risk Central (CIRC) by 08:30 on Monday, ensuring compliance with XML technical specifications and registering granted credit within thirty days of disbursement. Failure to register granted credit triggers the retention or suspension of associated credit rights, while non-compliance constitutes a punishable offense under Law No. 14/21 and revokes prior conflicting directives. This Directive enters into force thirty days after publication, with the National Bank of Angola retaining authority to resolve any interpretive doubts or omissions.

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GOVERNOR DIRECTIVE NO. 01/2023 ORIGIN: CREDIT MONITORING OFFICE (GAC) DATE 10/01/2023 SUBJECT: FINANCIAL SYSTEM - Credit Information Reporting

Whereas it is necessary to monitor and follow up on compliance with the response deadlines for analysis, communication of the final decision, formalization, and provision of credit to borrowers, in accordance with Instruction No. 07/2020 of April 20 on Credit Granting; Considering the standardization of periodic reports on credit to the real economy, housing credit, and construction credit, as provided for in Notices No. 09/2022 and 10/2022, both dated April 6; In accordance with the combined provisions of Articles 147 and 235, both of Law No. 14/21 of May 19, the General Regime for Financial Institutions Law.

This Directive serves to establish the following:

  1. Banking Financial Institutions must submit to the National Bank of Angola information regarding credit grant applications, regardless of their nature.
  2. For the purposes of the preceding paragraph, Banking Financial Institutions must report credit application information through the Credit Information and Risk Central (CIRC), weekly, by 08:30 on Monday of the following week.
  3. The information referred to in the preceding paragraphs must comply with the completion of fields defined in the CIRC Technical Specifications Manual on credit application reporting, observing the provisions, requirements, and specifications of the XML message contained in said application, according to the nature of the credit.
  4. Banking Financial Institutions must register granted credit in the CIRC within 30 (thirty) days from the disbursement date.

CONTINUATION OF DIRECTIVE NO. 01/2023 Page 2 of 2 5. Failure to register granted credit as stipulated in the preceding paragraph entails the retention or suspension of benefits regarding credit rights, as established by Notices No. 09/2022 and 10/2022, both dated April 6. 6. All provisions contrary to this Directive are hereby revoked, notably Directives No. 03/GAC/2022 of April 20 and 04/GAC/2022 of April 21. 7. Non-compliance with this Directive constitutes an offense provided for and punishable under Law No. 14/21 of May 19, the General Regime for Financial Institutions Law. 8. Doubts and omissions arising from the interpretation and application of this Directive are resolved by the National Bank of Angola. 9. This Directive enters into force 30 (thirty) days after its publication. Luanda, January 10, 2023. CREDIT MONITORING OFFICE (GAC)

Veloso Ndunguini Filipe Pedro -Director-

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