FINANCIAL INSTITUTIONS LAW ( Part 4)

Article 5
Types of non-baking financial institutions

1. The following are non-banking financial institutions engaged in operations of money and credit, subject to the jurisdiction of the National Bank of Angola;

a) Foreign exchange bureaus;
b) Credit co-operatives;
c) Factoring companies;
d) Leasing companies;
e) Foreign exchange broker companies;
f) Micro-credit companies;
g) Providers of payment services;
h) System of payment operators, clearing or clearinghouses, as defined in the Angolan System of Payments Law;

i) Other companies defined as such by law;

2. The following are non-banking financial institutions engaged in insurance and social security activities, subject to the supervision of the Angolan Insurance Supervision Institute:

a) Insurance and reinsurance companies;
b) Pension funds and their managing companies;
c) Other companies defined as such by law.

3. The following are non-banking financial institutions engaged in capital and investment markets, subject to the jurisdiction of the Securities Supervision Entity:

a) Securities brokers companies;
b) Venture capital companies;
c) Securities distributing companies;
d) Holding companies;
e) Investment companies;
f) Asset management companies;
g) Investment funds management companies;
h) Mutual funds companies;
i) Real estate management and investment companies;
j) Providers of payment systems or clearing and clearinghouses for securities in accordance with the Angolan system of payment law;
k) Other companies defined as such by law.

4. Except for the provided for in number 1 of article 7 of this law, the credit cooperatives can receive deposits from their associates and carry out operations with the same, in accordance with the specific regulations approved.

5. The non-banking financial institutions referred to in number 2 of this article
shall have their activities ruled by specific legislation.

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