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National Reserve Bank establishes simplified account opening

Wed, 29 Apr 2020 16:17 - Updated Wed, 29 Apr 2020 16:04

Headquarter of National Reserve Bank

Photo: Francisco Miúdo

Luanda - The National Reserve Bank of Angola (BNA) has established a new simplified bank account opening regime, aimed at resident people who are unable to do so.

With these new rules, according to the Central Bank Notice of 27 April, which ANGOP had access to, it is now possible to open accounts for people or businesses, waiving the presentation of the Identity Card (which may be another identity document) or registration with the General Tax Administration.

In the framework of this strategy, which aims to increase the levels of financial inclusion, micro-entrepreneurs will also be allowed to have access to the use of dedicated Automatic Payment Terminals (TPA).

For this case, the micro-entrepreneur must have an ID card and hold an authorization from the competent body of the local administration to carry out their activity at that point of sale, such as in a municipal market.