At issue are the companies: Dakota Transfer - Sociedade de Remessas de Valores, Lda; Microfund - Microcredit Society, SA; Big One – Casa de Câmbios, Lda; Platium - Casa de Câmbios, Lda; Moneta - Casa de Câmbios, Lda; COOCREPF – Credit Cooperative, SA; Robinson – Casa de Câmbios, Lda; and PPCD - Sociedade de Microcredito, Lda.
On the 14th of July, the BNA had already revoked other licenses from financial institutions or given a deadline to non-banking operators in the Angolan market to regularize and adjust legal procedures, namely Mão Solidária - Microcredit Society, which now sees its forfeiture recognized. license for not having started its activity, within the period legally established for this purpose.
The BNA, the supervisory body of the national financial system, is responsible for revoking the authorization of non-banking financial institutions, whenever the requirements are not met, in which case the financial institution has less than the legal minimum share capital, ceases its activity for a period longer than six months.
Thus, these non-banking financial institutions will be liquidated in accordance with the court procedures generally applicable to commercial companies.
BNA revokes licenses from eight non-banking institutions
The National Bank of Angola (BNA) revoked the licenses of eight non-bank financial institutions for having less than the legally established share capital and inactivity for more than six months.
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