Regulatory Alerts1994-12-27
Directive No. 6/DSB/94
The Banking Supervision Directorate of Angola mandates that financial institutions settle advances to depositors within a maximum of 90 days while adhering to the sound banking practices outlined in Instruction No. 1/94. Financial institutions must implement internal analytical controls to track each advance's beneficiary, date, and value, recording them in accounts 2202 or 2212. Upon maturity, these amounts must be reclassified to the "Loans, Securities and Accrued Interest" account and reported as granted credit to the National Bank of Angola.
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