Regulatory Alerts1992-08-12
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Instruction No. 5/92 on the Opening of Financial Institution Branches and Dependencies
The National Bank of Angola issued Instruction No. 5/92 to regulate the prior authorization process for financial institutions seeking to open branches or dependencies within the country. The directive mandates that applicants submit detailed proposals covering projected operations, installation and operational cost structures, and recent semi-annual balance sheets to the Bank's Governor. Approval is contingent upon the applicant's financial capacity (fixed assets under 70% of equity), local economic need, and market saturation, with authorizations lapsing after six months of inactivity or conditional approval requiring new branches in underserved areas.
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