The new law that regulates the provision of payment services and reinforces the procedures for opening, managing and closing payment accounts, control, verification and validation of customer identification and diligence means, could prevent the frauds seen lately in Angolan civil society, in the opinion of several analysts consulted by Jornal Expansion.
This new law, which is regulated with the publication of the Notice No. 2/22 of the National Bank of Angola (BNA), where for the Angolan Association for the Defense of Consumer Banking Services (ACONSBANC), consulted by the Angolan weekly, provision of payment services in the financial system, including new small players, are creating “conditions for the emergence of new payment initiatives and solutions in the country, which aim to provide a wide range of fast and accessible payment services at reduced costs and with a guarantee of security and transparency for users".
According to analysts, this regulation adapts the Angolan financial system to international standards, which are constantly dynamic and demanding.
"What happened is more an adjustment to what is required by the global monetary system, which is dynamic. And as it evolves, there is a need for our regulator, in this case the National Bank of Angola, to adjust to the evolution of the international monetary financial system itself“, reveals the source of ACONSBANC to the newspaper.
BUT: Angolans prefer to make payments through multicaixa
Still on this path, with this regulation also come limits and control in the use of means of payment, which are constantly being modernized, that is, “bring what gained strength from the point of view of the functionality of the financial system and use of means of payment“, says the source.
Appeared in the Diário da República, the document also clarifies the procedures for issuing, distributing and reimbursing electronic money, with a view to ensuring the protection of electronic money holders, as well as enshrining a set of behavioral rules, with an impact on the contractual relationship between issuers and holders of electronic money, which is an electronically stored monetary value that can be used to carry out payment operations, that is, to deposit, transfer or withdraw funds, such as prepaid cards.
From the point of view of the main national banking institution, the regulation of the activity of providing payment services introduces the obligation for payment service providers to implement adequate mechanisms for the detection and prevention of fraud in real time, with a view to complying with obligations in terms of prevention and fight against money laundering, financing of terrorism and proliferation of weapons of mass destruction, whose law was recently revised.
