Ver Angola

Banking and Insurance

Regulator fines Banco Angolano de Investimentos by 15 million kwanzas

The National Bank of Angola fined Banco Angolano de Investimentos (BAI) 15 million kwanzas for violating the rules to protect consumers of financial products and services, the regulator announced.

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In a statement, the BNA says that two rules were violated: assignment of a dedicated manager without the express consent of customers and failure to comply with the duty to inform the supervisory body, regarding the handling of customer complaints.

With a view to dissuading these conducts, the central bank imposed a pecuniary penalty and the disclosure of the decision issued in the sanctioning process.

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