Regulatory Alerts2017-03-29
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Notice No. 03/2017 of March 30, Monetary Policy - Exemption of Fees for Minimum Banking Services
The Bank of Angola issued Notice No. 03/2017 to establish rules exempting financial institutions from charging commissions for a defined list of minimum banking services. This mandate applies to all individual and collective accounts held by natural persons, requiring institutions to publish these services as fee-free in their price lists. Non-compliance triggers corrective actions, potential refunds to clients, and sanctions under the legal framework for financial institutions.
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