Regulatory Alerts2010-10-20
Bank of Angola Notice No. 02/2010 Establishing the Credit Information and Risk Center
The Bank of Angola issued Notice No. 02/2010 to establish and regulate the Credit Information and Risk Center (CIRC), a centralized database managed by the central bank to consolidate credit operations, potential liabilities, and associated risks. The regulation mandates all supervised financial institutions to electronically submit updated credit data, ensuring that participating entities and the public can access this information while maintaining strict confidentiality and bank secrecy. Non-compliance results in restricted CIRC access, and the notice repeals prior conflicting directives while establishing civil and criminal penalties for infractions.
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