The National Reserve Bank of Angola (BNA) made public on Monday an instructive on the granting of credit, which, among other guidelines, obliges banks to apply differentiated interest rates to customers.
The document, which comes into force within 30 days, states that rates should be defined according to the specific risk classification of each operation, determined on the basis, inter alia, of the level of risk assigned to each customer, the characteristics of the product and the guarantees provided.
The instructive arises from the need to promote the responsible granting of credit.
Instructive does not allow credits indexed to a foreign currency. The instructive of the National Bank of Angola (BNA) says not to be allowed the granting of credit with indexed capital (value that serves as reference for calculations) to a foreign currency.
In this context, banks may grant credit in foreign currency to exporters with proceeds in that currency. The instructive determines that whenever the contractual changes result from financial difficulties of the client, banks cannot aggravate the charges with the credit by increasing the interest rate or the charging of commissions or expenses related to the restructuring of the credit.
“Failure to comply with the obligations set forth in this document constitutes a punishable offense under the Basic Law of Financial Institutions,” reads the document.