Regulatory Alerts2023-11-27
Instruction No. 15/2023 of 21 November
The Bank of Angola issued Instruction No. 15/2023 to establish comprehensive management, adhesion, and participation rules for the KWiK Payment Arrangement within its Instant Transfer System. The directive mandates that all authorized payment service providers, including specific banking and non-banking institutions, join the arrangement within defined deadlines while ensuring 24/7 continuous operation and strict interoperability standards. It further enforces a three-year moratorium on processing tariffs, prohibits client surcharges and price discrimination for domestic inter-participant transfers, and establishes a pre-financed settlement model with a capped interchange commission.
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