Browsing: banking in angola

This diploma has the goal of completing the regulatory programme carried out by the Angolan Executive with theFurtherAfrica purpose of reforming financial regulations.

In fact, this new Law has the purpose of suiting the current challenges within the scope of financial stability, in particular in what concerns the reinforcement of the legal framework of the regulation and supervision of the institutions participating in the Financial Sector.

Thus, this new regime introduces significant changes to the existing legal framework, namely in what concerns its institutional part, as well as supervision, interventive, contraventions, and sanctions measures.

Also read Finance in Common Summit Spring Meeting: Public development banks call for new financing for Africa’s recovery post-Covid-19

 

Further to the above-mentioned, this new Law establishes:

a) The procedure for incorporation and carrying out of Financial Institutions’ operations;

b) The exercise of the supervisory activity;

c) The procedure for corrective intervention and resolution; and…