Regulatory Alerts2023-02-09
Notice 01/2023 - Opening, Handling and Closing of Bank Accounts
The National Bank of Angola issued Notice 01/2023 to standardize the opening, maintenance, operation, and closure of bank accounts for all natural and legal persons in Angola. The regulation mandates rigorous customer identification and due diligence, defines operational rules for corporate, dormant, foreign currency, and minor accounts, and requires institutions to provide statements through agreed channels. Financial institutions must implement these provisions within ninety days, while retaining the right to immediately close accounts for non-compliance and reverting unclaimed dormant balances to the State after fifteen years.
Share