Angola: Bna Intends to Dictate Rules for Electronic Money Licensing

  • Posted on: 2 November 2020
  • Updated on: 2 November 2020
  • By: radmin

The National Bank of Angola (BNA) on Sunday recommended all companies operating in the e-money business, without being qualified to do so, so as to be identified in the Payment System Department.

In a communiqué, the BNA, as regulator and supervisor of the financial system, says it has verified a growing number of applications with integrated e-money packages in the Angolan marked without being constituted as payment service providers.

Therefore, it requires companies in this field to send information, such as the name of the legal entity, the application and reference of the entity in the ITM system.

The information should be sent to the BNA's Payment System Department e-mail, ddspa.dsp@bna.ao, adds the note published in the Central Bank's website to which Angop had access.

The Central Bank justifies the need to comply with the rules defined in the Basic Law for Financial Institutions, Notice no. 07/2018 of 29 November on the Requirements and Procedures for Authorization to Establish Non-Banking Financial Institutions and Notice no. 07/2017 of 12 September, which authorizes the provision of payment services.

Source: All Africa

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