According to the Report on Sanctioning Activity - II Quarter/2021 of the National Bank of Angola, between April 1st and June 30th, 444 sanctioning processes were considered, of which 280 were instituted against banking financial institutions (IFB's) and 164 against institutions non-bank financial institutions (IFNB's).
The document, consulted by the Lusa agency, adds that, of the 444 processes, 57 sanctioning processes were closed, of which 40 refer to IFB's and 17 against IFNB's and correspond to non-compliances of a different nature.
With regard to the IFBs, in foreign exchange matters, 12 breaches of the reporting period of the exchange position limit and one breach of the limits for the execution of commodity exchange operations were verified, while in the financial conduct, 17 breaches of the rules on financial products and services made available to financial consumers.
In prudential matters, nine breaches were notified, namely the rules on the registration of the members of the governing bodies, the duty to report the GC/SCI Report, the rules on currency circulation and the procedures on the reporting of credits to sectors on the real economy .
The report indicates that of the 57 cases closed, 36 culminated in the application of pecuniary sanction measures, in the global amount of 392 million kwanzas, of which ten fines were imposed coercively, for failure to comply with the regulatory deadline for voluntary payment.
"On the other hand, due to insufficient evidence to formalize the accusation, two processes were filed, as well as the defense arguments presented by two institutions were granted", the document underlines.
With regard to IFNB's, the report highlights that 17 breaches were committed in matters of prudential and financial conduct, in relation to non-compliance with the rules on statutory amendments, the reporting period for the Self-Assessment Questionnaire and the reporting period for the GC/SCI Report .
"Of the 17 closed processes, filed against non-banking financial institutions, resulted in the application of fines totaling 37,100,000 kwanzas, paid voluntarily", underlines the report of the National Bank of Angola.
