Regulatory Alerts2012-03-30
Added · Updated
Notice No. 08/2012 of March 30
The National Bank of Angola issued Notice No. 08/2012 to establish supplementary rules and minimum operational requirements for non-bank micro-credit companies, aligning Angolan financial regulations with international standards. The notice mandates specific capital thresholds of Kz 2.5 million, defines micro-credit loans up to Kz 1 million per client, and outlines detailed authorization procedures, risk-based provisioning tables, quarterly reporting obligations, and mandatory external audits. It further imposes a 12-month compliance window for existing entities and revokes conflicting prior legislation to ensure consistent corporate governance and credit classification across the sector.
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.