Regulatory Alerts2018-03-21
Added · Updated
Notice No. 04-2018 of March 22: Amendment to Article 12 of Notice No. 09/17 Regarding Payment System Infractions
The Bank of Angola issued Notice No. 04-2018 to amend Article 12 of Notice No. 09/17, establishing specific financial penalties for payment service providers who fail to meet regulatory deadlines for fund transfers. The notice mandates daily fines calculated as a percentage of the provider's minimum share capital, divided by 360 days, for various types of execution delays. Additionally, it outlines a strict complaint management procedure requiring the central bank to investigate irregularities within 24 hours and notify providers to settle funds and pay sanctions immediately.
More like this from BNA
BNA published 1 document in the last 30 days. We email you each new one the day it's published.
Topics
Share