Regulatory Alerts2020-03-09
Added · Updated
Notice No. 06/2020, dated March 10: Credit Concessions to Holders of Qualified Participations
The National Bank of Angola issued Notice No. 06/2020 to cap credit extensions by banking financial institutions to holders of qualified participations and their controlled or group-related companies. The regulation limits aggregate exposure to 20% of an institution’s basic own funds, with individual caps of 5% for natural persons and 10% for legal entities, while mandating risk-based pricing, qualified administrative approval, and monthly reporting. It further requires a ten-year record-keeping period, preserves existing credits under transitional rules, and establishes non-compliance as a sanctionable offense under the Framework Law on Financial Institutions.