Legislation News Banking and finance, capital markets and insurance in Angola 2nd quarter 2022 – Financial services

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This new edition of the newsletter on Banking and Finance, Capital Markets and Insurance Law in Angola for the 2nd quarter of 2022 collects the most significant news in these areas.

BANKING AND FINANCE

I. BNA

Notice no. 9/22 of April 6which establishes the special regime for mortgage credit and construction credit.

Notice no. 22/10 of April 6which establishes the conditions for the granting of credits in the real sector of the economy.

Notice no. 22/11 of April 14which establishes the requirements and procedures for the authorization of the establishment of non-banking financial entities linked to currency and credit, under the supervision of the BNA.

Notice no. 12/22 of May 4which establishes the regulatory requirements for social and equity capital applicable to non-bank financial entities linked to currency and credit, under the supervision of the BNA.

Notice no. 13/22 of May 4which establishes the limit of the exchange position and the basis of calculation of banking financial entities.

Instruction no. 4/2022, of April 18which defines the rules and procedures for the annual contribution to the Deposit Guarantee Fund of Angola.

Instruction no. 5/2022, of June 13, which establishes the minimum requirements for the public disclosure of prudential information by financial banking entities.

Directive no. 03/GAC/2022 of April 21which establishes the rules and procedures for communicating statistical information on the granting of credit in the real sector of the economy.

Directive no. 04/GAC/2022 of April 22which establishes the rules and procedures for communicating statistical information on the granting of credit in the special mortgage and construction credit regime.

Directive no. 06/DMA/2022 of June 2which updates the calculation and compliance requirements for reserve requirements.

Circular letter no. 03/2022, of April 29which updates the rules and procedures of the customer service departments.

II. President of the Republic

Presidential decree no. 94/22 of April 22which approves the restructuring of the Credit Support Project, which is part of the Production Support Program, Export Diversification and Import Substitution.

Presidential decree no. 111/22 of May 13which approves the Regulation of the Resolution Fund.

III. Government / Parliament

Executive decree no. 185/22, of April 8, which determines the issuance of “Eurobonds” for an amount of 3,000,000,000 USD, authorized by Presidential Order no. 65/22, of March 30.

CAPITAL MARKETS

I. CMC

Instruction no. 01/CMC/04-22 of April 25on the certification of the qualification and professional aptitude of investment consultants and financial analysts.

The content of this article is intended to provide a general guide on the subject. Specialist advice should be sought regarding your specific circumstances.

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About the Author: Chaz Cutler

My name is Chasity. I love to follow the stock market and financial news!