Notice No. 06/2021 of 14 April on Credit Concession to the Real Economy

PUBLISHED IN THE OFFICIAL GAZETTE, FIRST SERIES, NO. 65, OF 14 APRIL 2021 NOTICE NO. 06/2021 SUBJECT: CREDIT CONCESSION TO THE REAL ECONOMY SECTOR

• Extension of the Validity Period of Notice No. 10/2020 of 3 April
  Considering the need to continue promoting credit concession to the real economy sector, the Banco Nacional de Angola has decided to extend the validity period of Notice No. 10/2020 of 3 April, thereby maintaining the incentives granted to national Banking Financial Institutions for granting such credit; Under the combined provisions of subparagraphs (d) and (f) of paragraph 1 of Article 21, and subparagraph (d) of paragraph 1 of Article 51, both of Law No. 16/10 of 15 July – the Banco Nacional de Angola Law. IT IS HEREBY DETERMINED:
  Article 1. (Subject Matter)
  This Notice aims to extend the validity period of Notice No. 10/2020 of 3 April until 31 December 2021, maintaining the requirements set forth herein, including the reference date of 31 December 2019 for calculating the minimum amount to be granted.
  Article 2. (Assessment of Compliance with Established Targets)
  For the purpose of applying sanctions as provided in Article 9 of Notice No. 10/2020 of 3 April, the Banco Nacional de Angola will assess compliance with the requirements established in said Notice on the following dates:
  a) 30 April 2021, in accordance with the requirements established in Article 4 of Notice No. 10/2020 of 3 April, on Credit Concession to the Real Economy Sector; CONTINUATION OF NOTICE NO. 06/2021 Page 2 of 2 b) 31 December 2021, as established in this Notice.
  Article 3. (Reporting)
  Banking Financial Institutions must, for the purposes of the preceding article, report the following information to the Banco Nacional de Angola:
  a) By 14 May 2021, the amounts disbursed by 30 April 2021; b) By 15 January 2022, the amounts disbursed by 31 December 2021.
  Article 4. (Repeal)
  Instructional Notice No. 21/2020 of 23 December is hereby repealed.
  Article 5. (Sanctions)
  Non-compliance with the provisions of this Notice constitutes an offence punishable under Law No. 12/15 of 17 June, the Framework Law on Financial Institutions.
  Article 6. (Questions and Omissions)
  Questions and omissions arising from the interpretation of this Notice are resolved by the Banco Nacional de Angola.
  Article 7. (Entry into Force)
  This Notice enters into force on the day following its publication.
  PUBLISH.
  Luanda, on 5 April 2021.
  THE GOVERNOR
  JOSÉ DE LIMA MASSANO