BANCO NACIONAL DE ANGOLA National Bank of Angola

23 Pages·2012·0.85 MB·English

by  João Reis

BANCO NACIONAL DE ANGOLA
National Bank of Angola

Workshop on FINANCIAL EDUCATION

Subject: Consumer Protection and Financial
Literacy in the Provision of Payment Services
Speaker: Ramos da Cruz
Lisbon, Centro Cultural de Belém,
23 to 25 October 2012
1
001
CONTENTS:
1. REGULATORS IN THE ANGOLAN FINANCIAL SYSTEM
2. TASKS OF THE BNA (National Bank of Angola)
3. MAIN OBJECTIVES OF THE DEPARTMENT OF
CONDUCT (DSC)
4. IMPORTANCE OF FINANCIAL EDUCATION

2
003
REGULATORS OF THE FINANCIAL SYSTEM

Law on Financial Institutions (LIF) no. 13/05 of 30 September

Non-banking Financial
Banking Financial Institutions
Institutions

National Bank
Art. 5, no. 1, Banking and non-banking financial institutions, except
of Angola
insurance companies, social welfare and capitals market
(BNA)

Insurance
Supervision Art. 5, no. 2, Insurance companies and social welfare
Institute (ISS)

Capital Market
Art. 5, no. 3, Companies linked to the capitals and investments
Commission
(CMC) markets

3
002
TASKS OF THE BNA
BNA Law - Law no. 16/10 of 15 July

Chapter VI, Rules of Conduct, sections I to
Art. 3, nos. 1 and 2:

IV, arts. 55 to 69.

Art. 57, no. 1 – Information obligations

 Issue, ensure and preserve the value
of the national currency
 Provisions on technical competences,
 Contribute towards the definition of
relations with clients, information

monetary, financial and exchange
obligations, codes of conduct,

policies
professional secrecy, cooperation with
 Execute, follow up and monitor the other bodies, conflicts of interests,

monetary, exchange and credit competition and advertising
policies  Inform the clients clearly and
 Manage the payments system and transparently on remuneration, interest
money supply within the framework rates, requirements for credit, the price of
services, etc.
of Angola’s economic policies
4
004
General Objectives

1. Bridge the gap between clients and institutions

2. Identify risks and calculate the level of vulnerability of the financial
system
3. Ensure the stability of the financial system and prevent financial
crises
4. Introduce the supervision of financial institutions as a legal concept
within the framework of the BNA’s duties
5. Ensure the protection of consumers of financial products and
services
6. Set up effective methods to ensure compliance with the Code of
Conduct, through:
1. regulation and sanctions
2. the analysis of clients’ complaints
5
005
7. Monitor the operations and internal control methods
of financial institutions

Micro and macro prudential
supervision Supervision of conduct

Issuing of prudential rules and conduct rules
006
Regulatory matters within the framework of the
BNA’s supervisory role
• Types of action:

• Protection of the interests of consumers of
financial products and services
• Time frame for transfer processing
• Timeframe for the availability of payment
operations
• Issuing, accepting and using payment cards
007
Protection of the Consumers of Financial Products and Services
(Notice no. 02/11 of 01 June)

Notice no. 02/11 of 01 June establishes the rules and procedures
financial institutions must respect when providing financial
products and services, ensuring:
PROTECTION OF  the non-discriminatory treatment of consumers of financial
THE CONSUMERS products and services
OF FINANCIAL
 priority attendance
PRODUCTS AND
 personal safety and property protection for individuals
SERVICES
accessing financial institutions
 information protection
 the right to file complaints
8
008
Transferências e Disponibilização de Fundos (Aviso n.º 02/12, de 09 de Março)

 Intrabank transfers (national or foreign currency) – must be
made on the day on which the orders are validated (validation
must take place on the same day)
 Interbank transfer orders received before 15:00 on a working
day – Credit Transfer Subsystem (STC) clearing of the same day
TIME FRAME FOR  Interbank transfer orders received after 15:00 – Credit
TRANSFER Transfer Subsystem (STC) clearing of the next working day
PROCESSING  Multicaixa system orders made before 15:00 – clearing on the
same day
 Multicaixa orders made after 15:00 – clearing on the
following working day
 Urgent real time gross settlement system transfers (SPTR) –
on the same day or on the following working day
9
009
Transfers and Availability of Funds (Notice no. 02/12 of 09 March)

 Intrabank transfers – at the moment the sum is debited from
the payer
 Interbank transfers – on the following working day
 Real time gross settlement (SPTR) transfers – 30 (thirty)
minutes after settlement
 Cash deposits (national or foreign currency) – immediate
TIME FRAME FOR
availability of the credit balance for the beneficiary
PAYMENT
 Cheques drawn from an account at the depositing banking
TRANSACTIONS
financial institution – require the availability of the credit
balance for the beneficiary on the day of deposit
 Cheques drawn from an account at a banking financial
institution other than the depositing institution - require the
availability of the credit balance for the beneficiary by the end
of the day
10