Africa-Press – Angola. This normative framework, published on the official website of the BNA, complies with the provisions enshrined in Law nº 40/20, of 16 December, a diploma on the Angolan Payments System, which establishes, among others, the urgent need to update the rules and procedures for hiring and operating bank agents and means of payment.
The aim, attests to the regulations, is to make a greater contribution to increasing levels of financial inclusion, as well as boosting the expansion and access of citizens to financial products and services across the country.
Among the instruments published are notices number 02/2022, on the Provision of Payment Services, 03/2022, of the Operating Rules and Procedures Applicable to Financial Market Infrastructures, both dated 2 February and number 04 /2022, regarding the Expansion of Financial Services, as well as 05/2022, of 3 February, which establishes the Operating Rules and Procedures inherent to Payment Arrangements.
The notice on the Provision of Payment Services introduces innovative changes regarding the strengthening of the procedures for opening, managing and closing payment accounts, control, verification and validation of the means of identification and due diligence of the customer, accepted for the opening of different payment accounts .
The same diploma also creates the categorization of companies that provide payment services, with the objective of exercising them to new small players and, whose primary purpose is to speed up, simplify services with reduced costs, such as fintechs .
With this notice, the BNA imposes the obligation on payment service providers to implement adequate mechanisms for the detection and prevention of fraud in real time, so that they can comply with their obligations in terms of preventing and combating money laundering. , from the financing of terrorism and the proliferation of weapons of mass destruction.
As for the notice on the Operating Rules and Procedures Applicable to Financial Market Infrastructures, in addition to the changes introduced, these rules aim to play a fundamental role for the efficient functioning of the financial system, in particular, and the economy, in general, with a view to ensuring stability and effectively safeguarding the transmission channels of monetary policy.
Notice number four, which updates the Financial Services Expansion regime, aims at the need to expand the activity of banking agents, giving them the possibility to also exercise the activity of credit intermediation and payment agent, in order to that may have a greater coverage of these services to the population, throughout the national territory.
In this regard, credit intermediaries and payment agents play an important role in the credit market, particularly in facilitating access to credit and the provision of payment services, especially the provision of instant payment services to consumers.
The fifth notice, which establishes the Operating Rules and Procedures inherent to Payment Arrangements, brings a single set of rules, practices, norms or guidelines, for the execution of payment operations, distinct from payment systems and allowing their normal functioning. .
The aforementioned notice is based on a vision, in line with the principles of the Financial Markets Infrastructure (PIMF) and the SPA Law, as well as with the guidelines issued by the World Bank, with the aim of innovating and promoting the credibility, security, efficiency of the financial system. Angola, through payment arrangements, giving greater power to payment service providers, within the scope of defining the rules of the arrangements established by them.
The BNA intends, with this regulatory framework, to create an environment conducive to changing the rules and operating procedures inherent to payment providers, in relation to the criteria for authorizing and exercising the activity of payment arrangements.
In the view of the Central Bank, the creation of conditions for the emergence of initiatives that provide new and better functionalities, as well as safe and transparent access conditions for users of means of payment, as well as the definition of rules for the mitigation of risks to be observed by the creators of payment arrangements, are in the logic of their creation of the aforementioned approved notices.
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