Notice No. 03/2024 on Minimum Share Capital for Banking Financial Institutions

PUBLISHED IN THE OFFICIAL GAZETTE, SERIES I, NO. 238, OF 16 DECEMBER 2024 NOTICE NO. 03/2024 SUBJECT: FINANCIAL SYSTEM − Minimum Share Capital of Banking Financial Institutions Considering the need to define the minimum share capital of Development Banks, it is necessary to review Notice No. 17/22, of October 7, on Minimum Share Capital of Banking Financial Institutions. According to the combined provisions of number 1 of article 163 of Law no. 14/21, of 19 May, Law on the General Regime of Financial Institutions, with the provisions of paragraph d) of number 1 of article 31 and number 1 of article 98, both of Law no. 24/21, of 18 October, Law of the National Bank of Angola. I HEREBY DETERMINE:
Article 1
(Object)
This Notice establishes the minimum share capital for Banking Financial Institutions.
Article 2
(Scope)
This notice applies to the Banking Financial Institutions provided for in number 2 of
article 7 of Law no. 14/21, of 19 May, Law on the General Regime of Financial
Institutions, namely:
a) Commercial Banks; and b) Development Banks.
Article 3
(Share Capital)

1. The Banking Financial Institutions referred to in the previous article must have
   their share capital fully paid up in the minimum amount of:

a) For Commercial Banks – Kz. 15 000 (fifteen billion Kwanzas); b) For Development Banks – Kz. 50 000.00 (fifty billion Kwanzas).
Article 4
(Infringements)
Failure to comply with the provisions of this Notice constitutes a misdemeanour provided for and punishable under the terms of Law No. 14/21, of 19 May, Law on the General Regime of Financial Institutions.
Article 5
(Doubts and Omissions)
Doubts and omissions arising from the interpretation and application of this Notice are clarified by the National Bank of Angola.
Article 6
(Revocation Rule)
Any regulation that contradicts the provisions of this Notice, namely Notice No. 17/22, of October 7, on Minimum Share Capital of Banking Financial Institutions, is hereby revoked.
Article 7
(Entry into Force)
This Notice shall enter into force on the day following its publication. BE IT PUBLISHED Luanda, 9th December 2024. THE GOVERNOR MANUEL ANTÓNIO TIAGO DIAS CONTINUATION OF NOTICE NO. 03/2024 Page 2 of 2