Legislation News Banking And Finance, Capital Markets And Insurance In Angola 1st Quarter Of 2022

• Published date: 02 May 2022
• Subject Matter: Finance and Banking, Insurance, Financial Services, Insurance Laws and Products, Reinsurance
• Law Firm: PLMJ
• Author: Renata Valenti and Gonçalo Dos Reis Martins

This new edition of the newsletter on Banking and Finance, Capital Markets and Insurance Law in Angola for the 1st quarter of 2022 sets out the most significant new developments in these areas.

BANKING AND FINANCE

I. BNA

Notice no. 1/22 of 28 January, which regulates the governance and internal control systems and defines the minimum standards on which the organisational culture of banking financial institutions must be based.

Notice no. 2/22 of 2 February, which establishes the rules on access to the activity of provision of payment services in the Angolan Payments System.

Notice no. 3/22 of 2 February, which defines the operational rules and procedures inherent to the activities of the financial market infrastructure.

Notice no. 4/22 of 3 February, which establishes the specific rules applicable to financial institutions that intend to expand their activities throughout the country by hiring banking agents and contracting payment agents.

Notice no. 5/22 of 3 February, which establishes the operational rules and procedures inherent to payment arrangements at the level of the Angolan Payment System.

Notice no. 7/22 of 15 March, which establishes the specific rules applicable to payments under the insurance and reinsurance contracts to which the operators in the oil and gas sector in the Republic of Angola are parties.

II. President of the Republic

Presidential Decree no. 7/22 of 12 January, which establishes the rules on the legal-tax relationship that generate the obligation to pay fees to BNA in exchange for the provision of certain services, and on their supervision.

Presidential Decree no. 40/22 of 8 February, which authorises the Minister of Finance to issue of Treasury Bonds up to the limits established in the General State Budget for the 2022 Economic Year.

Presidential Decree no. 41/22 of 8 February, which authorises the Minister of Finance to issue of Treasury Bills under the terms of Presidential Decree no. 164/18 of 12 July.

Presidential Order no. 63/22 of 24 March, which approves the alteration and restructuring of the Global Medium Term Programme for the Issue of Sovereign Debt Bonds in the international markets in the form of Eurobonds. This Order also authorises the Minister of Finance to approve and sign the Letter-Mandate with the financial institutions selected to form part of the Global Medium Term Programme for the Issue of Eurobonds. The Minister is also authorised to sign all documentation relating to them, to contract consultancy and...