Regulatory Alerts1995-07-17
Notice No. 05/95 of 17 July 1995 on Minimum Share Capital for Banking Institutions
The Governor of the National Bank of Angola issued Notice No. 05/95 of 17 July 1995 to amend the minimum share capital requirements for commercial, investment, and development banks. The regulation mandates that these institutions must be established with a fully paid-up cash capital of no less than KZR 9 600 000 000 00 (Nine billion and six hundred million Adjusted Kwanzas), which must be deposited with the central bank by the date of incorporation. This notice immediately supersedes the previous capital framework and formally repeals Notice No. 1/95 of 9 January 1995.
NOTICE NO. 05/95 OF 17 JULY Considering the need to update the Share Capital of Banking Institutions provided for in Notice No. 1/92 of 10 April; Pursuant to Article 10(2) of Law No. 5/91 of 20 April; I HEREBY DETERMINE: Article 1 Paragraph 1 of Article 1 of Notice No. 1/92 of 10 April, published in the Official Gazette No. 15 of the series, shall henceforth read as follows: Commercial Banks, as well as Investment or Development Banks, may only be established with a minimum share capital fully paid up in cash of no less than KZR 9 600 000 000 00 (Nine billion and six hundred million Adjusted Kwanzas), deposited with the National Bank of Angola by the date of establishment." Article 2. This Notice shall enter into force immediately and repeals Notice No. 1/95 of 9 January 1995. PUBLISHED LUANDA, 17 JULY 1995
THE GOVERNOR
ANTÓNIO GOMES FURTADO