Instruction No. 14/2022 of December 14

INSTRUCTION NO. 14/2022 of December 14
SUBJECT: ANGOLA PAYMENT SYSTEMS

• Adhesion and Participation in the Instant Transfer System
  Whereas it is necessary to define the deadlines for adhesion and participation in the Instant Transfer System and the KWiK Payment Arrangement, as well as to guarantee interoperability among the arrangement's participants, aiming to promote an efficient, fast and collaborative Payment System; In accordance with the combined provisions of letters a) and d) of Article 6.º of Law No. 40/20, of December 16, the Angola Payment System Law, of letter a) of Article 25.º and Article 36.º both of Law No. 14/21, of May 19, the General Regime Law for Financial Institutions, of Article 21.º and paragraph 1 of Article 98.º all of Law No. 24/21, of October 18, the Banco Nacional de Angola Law. I DETERMINE:

1. Object
   This Instruction defines the deadlines for adhesion and participation of Financial Institutions issuing electronic money in the Instant Transfer System and in the KWiK Payment Arrangement.
2. Scope
   This Instruction applies to Financial Institutions issuing electronic money participating in the Angola Payment System.

CONTINUATION OF INSTRUCTION NO. 14/2022 Page 2 of 3
3. Instant Transfer System and KWiK Arrangement
3.1. The Instant Transfer System is operated by EMIS - Empresa Interbancária de Serviços, S.A., the entity responsible for managing and operating the aforementioned system.
3.2. The KWiK Payment Arrangement is managed by EMIS, which defines, publishes and ensures compliance with the rules for using the brand of said Arrangement.
4. Interoperability
Participants in the Instant Transfer System and the KWiK Arrangement must ensure a direct connection with the operator, adopt functional and technical requirements, as well as guarantee compatible service levels and availability that enable interoperability, in accordance with Article 22.º of Notice No. 05/22, of February 3, on Payment Arrangements, combined with the KWiK Arrangement Regulations.
5. Adhesion and Participation
5.1. Financial Institutions issuing electronic money must adhere to the Instant Transfer System and its respective Payment Arrangement, by entering into a contract with the System Operator.
5.2. Participation in the Instant Transfer System and the KWiK Arrangement must comply with the rules established in the Operator's Manual of Standards and Procedures and the KWiK Arrangement Regulations, respectively.
5.3. Financial Institutions issuing electronic money that obtain incorporation authorization after the publication of this Instruction must formalize their adhesion to the Instant Transfer System and affiliation with the KWiK Arrangement, under the following terms:
5.3.1. Adhere to the Instant Transfer System and the KWiK Arrangement within 60 (sixty) days from the date of incorporation authorization by the Banco Nacional de Angola.
5.3.2. Complete technical certification for participation in the Instant Transfer System and the KWiK Arrangement within 180 (one hundred and eighty) days after the date of incorporation authorization by the Banco Nacional de Angola.

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5.4. Without prejudice to the provisions in the immediately preceding subsections, Financial Institutions issuing electronic money must adhere, participate and complete technical certification in the Instant Transfer System and the KWiK Arrangement before making financial products and services available to the market.
6. Transitional Provisions
Financial Institutions issuing electronic money that obtained incorporation authorization before the publication of this Instruction must formalize adhesion and complete technical certification for participation in the Instant Transfer System and the KWiK Arrangement within 120 (one hundred and twenty) days from the date of publication of this Instruction.
7. Penalties
Non-compliance with the provisions established in this Instruction constitutes an offense punishable under Law No. 40/20, of December 16, the Angola Payment System Law and Law No. 14/21, of May 19, the General Regime Law for Financial Institutions.
8. Doubts and Omissions
Doubts and omissions arising from the interpretation and application of this Instruction are resolved by the Banco Nacional de Angola.
9. Entry into Force
This Instruction enters into force on the date of its publication.
PUBLISHED.
Luanda, December 14, 2022.
THE GOVERNOR
JOSÉ DE LIMA MASSANO