FINANCIAL INSTITUTIONS LAW ( PART 5)

Article 6
Activities of the non-banking financial institutions

1. The non-banking financial institutions can only perform the operations specifically authorized by the legal provisions and regulations ruling their activities.

2. The National Bank of Angola shall be responsible for regulating the activities of the non-banking financial institutions listed in number 1 of article 5.

3. The Securities Supervision Entity shall be responsible for regulating the activities of the non-banking financial institutions listed in number 3 of article

Article 7
The principle of exclusivity

1. Only banking financial institutions may carry out the activity of receiving, from the public, deposits and other reimbursable funds, to be used on their own behalf and operate as intermediary in the settlement of payment operations.

2. Only non-banking financial institutions may, professionally, carry out the activities stipulated in this law and regulated by the Supervisory Entity.

3. The provision of number 1 of this article does not prevent insurance companies, from receiving reimbursable funds from the public, for credit operations, under the terms of the applicable legal provisions and regulations.

4. Not withstanding numbers 1 and 2 of this article the State can create funds, public institutes and other public law institutions, with juridical and financial status, to receive deposits and other reimbursable funds from the public, insofar as those activities are provided for in the legal diplomas creating them, as stipulated in this law.

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