National Bank of Angola establishes new rules for granting credit cards

Image: DR

The Reserve Bank Banco Nacional de Angola (BNA) has created new rules for credit cards, in order to promote the use of payment cards to the detriment of cash.

According to the rules of Instruction 8/2022, published on BNA website, the issuing of a credit card and the definition of its limit should be based on the customer’s credit risk assessment, and the customer should have a pre-paid card alternative when the bank’s assessment does not allow for a card.

BNA also stipulates that, regardless of the requirement to constitute collateral to cover payment risk, banks must establish limits according to the customer’s financial capacity and the origin of the funds to constitute the collateral.

The bank must also ensure compliance with the annual limit established for foreign exchange transactions by individuals and, in cases where a collateral deposit is set up to cover payment risk, its value may not exceed the value of the limit assigned.

08/03/2022