This new edition of the newsletter on Banking and Finance, Capital Markets and Insurance Law in Angola for the 2nd quarter of 2022 brings together the most significant new developments in these areas.
BANKING AND FINANCE
I. BNA
Notice no. 9/22 of 6 April, which establishes the special arrangements for mortgage credit and construction credit.
Notice no. 10/22 of 6 April, which establishes terms and conditions for granting credit in the real sector of the economy.
Notice no. 11/22 of 14 April, which establishes the requirements and procedures for the authorisation of constitution of non-banking financial institutions linked to currency and credit, under the supervision of BNA.
Notice no. 12/22 of 4 May, which establishes the regulatory share capital and equity requirements applicable to non-banking financial institutions linked to currency and credit, under the supervision of BNA.
Notice no. 13/22 of 4 May, which establishes the limit on the foreign exchange position and basis of calculation for banking financial institutions.
Instruction no. 4/2022 of 18 April, which defines the rules and procedures for the annual contribution to the Angolan Deposit Guarantee Fund.
Instruction no. 5/2022 of 13 June, which establishes the minimum requirements on the public disclosure of prudential information by banking financial institutions.
Directive no. 03/GAC/2022 of 21 April, which establishes the rules and procedures for reporting statistical information on the granting credit in the real sector of the economy.
Directive no. 04/GAC/2022 of 22 April, which establishes the rules and procedures for reporting statistical information on the granting credit under the special arrangements for mortgage and construction credit.
Directive no. 06/DMA/2022 of 2 June, which updates the requirements for calculation and compliance with the reserve requirements.
Circular Letter no. 03/2022 of 29 April, which updates the rules and procedures for the customer service departments.
II. President of the Republic
Presidential Decree no. 94/22 of 22 April, which approves the restructuring of the Credit Support Project, which is part of the the Programme to Support Production, Export Diversification and Import Substitution.
Presidential Decree no. 111/22 of 13 May, which approves the Regulation of the Resolution Fund.
III. Government / Parliament
Executive Decree no. 185/22, of 8 April, which determines the issuance of "Eurobonds" up to the amount of USD 3,000,000,000, authorised by Presidential Order no. 65/22, of 30 March.
CAPITAL MARKETS
I. CMC
Instruction no. 01/CMC/04-22 of 25 April, on 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 to the subject matter. Specialist advice should be sought about your specific circumstances.