Obligation to respect confidentiality
1. The members of the administrative and supervisory bodies of banking financial institutions, their employees, agents, representatives and other persons who provide services to them on a permanent or temporary basis may not reveal or use any information regarding any fact or element relating to the life of the institution or its relations with its clients, the knowledge of which they acquired solely through the exercise of their duties or through the provision of their services.
2. Specifically, the names of clients, their deposit accounts and movements related thereto, and any other banking operations, are subject to the requirement of confidentiality.
3. The obligation to respect confidentiality does not cease with termination of the person’s duties or employment.
Exceptions to the obligation to respect confidentiality
1. Facts or elements relating to the client-institution relationship may be revealed upon authorization of the client, communicated in writing to the institution.
2. Besides the circumstance mentioned in the previous number, facts and elements covered by the obligation to respect confidentiality may only be revealed:
a) to the National Bank of Angola within the scope of its powers;
b) to the Securities Supervision Entity within the scope of its powers;
c) to the Insurance Supervision Institute within the scope of its powers;
d) for preparation of court proceedings by means of a dispatch issued by a judge of law or a magistrate for public prosecution;
e) when there is another legal provision which expressly limits the obligations to respect confidentiality.
Supervisory authorities’ obligation to respect confidentiality
1. Persons who exercise or who have exercised duties within the National Bank of Angola, or persons who have provided services on a permanent or casual basis, are subject to the obligation to respect confidentiality regarding facts the knowledge of which they acquired solely through the exercise of their duties or provision of services, and they may not divulge or otherwise make use of the information obtained.
2. The facts and elements covered by the obligation to respect confidentiality may only be revealed by authorization of those concerned, communicated in writing to the National Bank of Angola, or under the provisions of the penal and penal process law.
3. The disclosure of summarized or grouped information, that does not allow the identification of individuals or institutions, is licit, namely for statistical purposes.