Regulatory Alerts2020-04-02
Added · Updated
Notice No. 09/2020 of April 3 on the Authorization for the Establishment of Banking Financial Institutions
This Notice establishes the requirements and procedures for authorizing the establishment of Banking Financial Institutions in Angola, including branches, agencies, and representation offices of foreign institutions, as well as the overseas establishment of such entities by Angolan banks. It mandates specific documentation, business plans, and governance structures for applicants, sets a three-month deadline for constitution and twelve months for commencing activity post-authorization, and revokes previous conflicting regulations, specifically Notice No. 09/2013.