The decision, published on the website of the National Bank of Angola, was taken at the second extraordinary session of the CSSF held on 10 June, extending the previous deadline that expired on 31 December 2025.
The measure aims to give more time to complete the transfer of these services to securities distribution and brokerage companies, in compliance with Law No. 14/21, on the General Regime of Financial Institutions, which determined that some services would no longer be provided by banks and would become exclusive to brokerage companies.
According to the statement, during the transition period, banking financial institutions (BFIs) may continue to register and hold securities of non-resident investors and their own portfolio, provide assistance in public offerings and carry out trading on their own account outside of a regulated market.
However, the registration of BFIs for consultancy activities on capital structure, mergers and acquisitions, as well as the underwriting and placement of securities in public offerings, will end at the end of 2025.
Institutions wishing to carry out the permitted activities must register or endorse with the Capital Market Commission (CMC) and are required to regularly submit detailed information on portfolios, income, inventories, depositary reports and transfer of clients to other intermediaries.
The regulator justifies the measure with the need to ensure the "continuity and regular functioning of the securities and derivatives market" while the financial intermediation model in the country is reconfigured.
