Notice No. 3/2015, of May 12 – Sets the Minimum Share Capital for Financial Institutions

754 II SERIES — NO 25 «B.O.» OF THE REPUBLIC OF CABO VERDE — MAY 12, 2015
20. Dionísia Simone Lopes Lima Martins
21. Carla Fortes Vieira
22. Ivalindo Jesus Oliveira
23. Paulo Jorge Costa Cardoso
24. Silvanilda Maria Santos Monteiro
Promotes the below-stated employee, Adélcia Margareth Cardoso Tavares, from Senior Specialist Level I, Reference 7, Grade A, to Senior Specialist Level II, Reference 8, Grade A, effective April 1, 2015.

1. Adélcia Margareth Cardoso Tavares
   The Financial and Patrimonial Human Resources Department, in Praia, on May 4, 2015. – The Director, Mária de Fátima de Pina Barros MINISTRY OF INFRASTRUCTURES AND MARITIME ECONOMY General Directorate of Planning, Budget and Management Extract of Order No. 555/2015 – From Her Excellency the Minister:
   April 20, 2015:
   Josiene Graça do Rosário, holder of a degree in public administration, is released from her ordinary secondment as Director of Human Resources and Patrimonial Services at the General Directorate of Planning, Budget and Management, pursuant to paragraph 1 and letter g) of paragraph 2 of Article 31 of Decree-Law No. 59/2014, of November 4, effective April 30, 2015. General Directorate of Planning, Budget and Management of the Ministry of Infrastructure and Maritime Economy, in Praia, on April 22, 2015. – The Director-General, Edna Sequeira Bejarano Restrepo. MINISTRY OF TOURISM, INVESTMENTS AND BUSINESS DEVELOPMENT General Directorate of Planning, Budget and Management Extract of Order No. 556/2015 – From Her Excellency the Minister:
   April 16, 2015:
   Leila Helena de Brito Varela Neves's ordinary secondment as Advisor to Her Excellency the Minister of Tourism, Investments and Business Development is terminated at her request, effective April 16, 2015. General Directorate of Planning, Budget and Management of the Ministry of Tourism, Investments and Business Development, in Praia, on April 21, 2015. – The Service Director, Juliana Carvalho.
   PART E
   INSTITUTE OF ROADS
   Board of Directors
   Extract of Order No. 557/2015 – From the President:
   May 5, 2015:
   João Benício Cardoso, classified as Middle-Level Technician - Level 202 in the personnel cadre of the Institute of Roads, advances to Middle-Level Technician - Level 203, under Article 23 of Ordinance No. 5/2005, of January 24, approving the Job and Salary Plan and Performance Evaluation Regulations for Institute of Roads personnel, effective upon publication in the Official Gazette. Extract of Order No. 558/2015 – From the President:
   May 5, 2015:
   Lenira Elisângela Ferreira Mendes da Costa, classified as Middle-Level Technician - Level 101 in the personnel cadre of the Institute of Roads, is reclassified to Senior Technician - Level 101, under Article 25 of Ordinance No. 5/2005, of January 24, effective upon publication in the Official Gazette. Institute of Roads, in Praia, on May 5, 2015. – The President, Manuel Nascimento Carvalho.
   PART H
   BANK OF CABO VERDE
   Governor's Office
   Notice No. 3/2015
   Minimum Share Capital
   Share capital consists of the asset mass integrating the own funds of financial institutions and represents an important pillar of their financial solidity and autonomy. In Cabo Verde, the minimum share capital for each type of financial institution is stipulated by Ordinance No. 19/2005, of March 14, amended by Ordinance No. 14/2013, of February 22. The current minimum share capital amount for credit institutions, especially Banks, does not align with the development level and depth of the Cabo Verdean financial system, nor with the associated financial risks. In this context, credit institutions (Banks), driven by market forces and self-regulation, have been updating their average minimum share capital to values above the regularly established threshold. This naturally results from the organic growth of banking business and its associated risks, leading to increasing demands for higher-quality capital in terms of permanence and loss-absorption capacity. Among other things, the Framework Law on the Financial System (Law No. 61/VIII/2014, of April 23) repealed the former enabling law (Law No. 3/V/96, of July 1) for setting minimum share capital. https://kiosk.incv.cv 3460A299-DE68-4AE5-BC10-D1D55B789449 Document downloaded by user CDI - BCV (10.8.0.141) on 14-05-2015 11:21:20. © All rights reserved. Unauthorized copying or distribution is prohibited. 2 0 1 4 0 1 6 4 3 II SERIES — NO 25 «B.O.» OF THE REPUBLIC OF CABO VERDE — MAY 12, 2015 755 Meanwhile, the Law on Financial Activities and Institutions (Law No. 62/VIII/2014, of April 23) established that the Bank of Cabo Verde shall henceforth set minimum share capital by Notice. Thus, given the urgent need to adapt to the aforementioned new legal instruments and considering the need to adjust minimum share capital values for Banks to align with the risks these institutions may assume in their specific activities, the Bank of Cabo Verde, pursuant to Article 40 of Law No. 62/VIII/2014, determines:
   Article 1.
   Minimum Share Capital
   The financial institutions listed below must possess a share capital amount not less than the following:
   a) General authorization Banks: 800 million escudos; b) Restricted authorization Banks: 400 million escudos; c) Investment companies: 100 million escudos; d) Venture capital companies: 60 million escudos; e) Financial leasing companies (leasing): 40, 50 or 60 million escudos, depending on whether the company's object is movable leasing, real estate leasing, or both, respectively; f) Regional development companies: 60 million escudos; g) Exchange agencies: 5 million escudos for those exclusively engaged in the purchase and sale of foreign currency, traveler's checks, and numismatics; and 20 million escudos for those providing money transfer services to and from abroad; h) Financial management companies: 4 million escudos; i) Financial assignment (factoring) companies: 40 million escudos; j) Credit card issuing and management companies: 30 million escudos; k) Pension fund management companies: 40 million escudos; l) Credit sales financing companies: 70 million escudos; m) Brokerage companies: 10 million escudos; n) Financial brokerage companies: 50 million escudos; o) Money and foreign exchange market mediation companies: 10 million escudos; p) Mutual guarantee companies: 100 million escudos.
   Article 2.
   Transitional Provision
   Financial institutions in operation whose regulatory minimum share capital is lower than that fixed in the preceding article must adjust their share capital to the minimum established by this Notice until December 31, 2015.
   Article 3.
   Enter into Force
   This Notice enters into force the day following its publication in the Official Gazette.
   Governor's Office and Councils of the Bank of Cabo Verde, in Praia, on May 4, 2015. – Governor pro tempore, Osvaldo Évora Lima
   PART I
   CHIEF OF GOVERNMENT
   STATE SECRETARY FOR PUBLIC ADMINISTRATION
   General Directorate of Public Administration
   Recruitment Notice No. 24/2015
   This recruitment announcement is coordinated by the General Directorate of Public Administration (DGAP), in accordance with Centralized Recruitment regulations, Article 10 of Law No. 77/VIII/2014, combined with Article 49 of Law No. 42/VII/2009, Article 20 of Decree-Law No. 9/2013 and DL No. 73/95 of November 21, with the objective of filling 8 (eight) vacancies for Finance Inspectors, Reference 14, Grade A, in the personnel cadre of the General Inspectorate of Finances (IGF) at the Ministry of Finance and Planning (MFP).
   | Academic Qualification | Category/Function | No. of Vacancies | Institution |
   | --- | --- | --- | --- |
   | Degree in Law | Finance Inspector | 1 | IGF |
   | Degrees in Accounting and Auditing | Finance Inspector | 3 | IGF |
   | Degree in Management | Finance Inspector | 2 | IGF |
   | Degree in Taxation | Finance Inspector | 1 | IGF |
   | Degree in Civil Engineering | Finance Inspector | 1 | IGF |
   | Total Vacancies: 8 | | | |
   Applications should be submitted, preferably via email to concursos.publicos@gov2.gov.cv.
   The application period is 10 days from the date of publication of this announcement in the Official Gazette.
   Any information regarding the selection process may be obtained by telephone at 260 99 99 or 333 73 99 (PBX-DGAP) or via the electronic address concursos.publicos@gov2.gov.cv. The competition regulations are available on the DGAP website and the Portondinos Ilha portal: www.dgap.gov.cv / www.portondinosilha.cv. The Director-General, Gerson Soares. Recruitment Notice No. 25/2015 This recruitment announcement is coordinated by the General Directorate of Public Administration (DGAP), in accordance with Centralized Recruitment regulations, Article 10 of Law No. 77/VIII/2014, combined with Article 49 of Law No. 42/VII/2009, Article 20 of Decree-Law No. 9/2013 and DL No. 73/95 of November 21, with the objective of filling 1 (one) vacancy for a Senior Finance Technician, Reference 14 Grade A, in the Centralized Acquisitions Management Unit (UGAC) of the Ministry of Finance and Planning (MFP).
   | Academic Qualification | Category/Function | No. of Vacancies | Institution |
   | --- | --- | --- | --- |
   | Degree in Finance. Senior Finance Technician, Ref.14 Gr.A | 1 | UGAC/MFP | |
   | Total Vacancies: 1 | | | |
   Applications should be submitted, preferably via email to concursos.publicos@gov2.gov.cv.
   The application period is 10 days from the date of publication of this announcement in the Official Gazette.
   Any information regarding the selection process may be obtained by telephone at 260 99 99 or 333 73 99 (PBX-DGAP) or via the electronic address concursos.publicos@gov2.gov.cv. The competition regulations are available on the DGAP website and the Portondinos Ilha portal: www.dgap.gov.cv / www.portondinosilha.cv. The Director-General, Gerson Soares. Recruitment Notice No. 26/2015 This internal competition announcement is coordinated by the General Directorate of Public Administration (DGAP), in accordance with Centralized Recruitment regulations, Article 10 of Law No. 77/VIII/2014, combined with Articles 8, 24 and 25 of Decree-Law No. 59/2014, and Article 93 of Law No. 42/VII/2009, with the objective of filling the vacancy for Coordinator(s). https://kiosk.incv.cv 3460A299-DE68-4AE5-BC10-D1D55B789449 Document downloaded by user CDI - BCV (10.8.0.141) on 14-05-2015 11:21:20. © All rights reserved. Unauthorized copying or distribution is prohibited. 2 0 1 4 0 1 6 4 3