Special Scheme For Mortgage Credit And Construction Credit

Angolan Central Bank (Banco Nacional de Angola, "BNA") Notice no. 9/22 of 6 April was recently published to establish special schemes for mortgage credit and construction credit.

The Notice is binding on banking financial institutions of systemic importance in the domestic market and optional for other banking financial institutions ("Commercial Banks").

Regarding interest, the Notice determines that, during the first ten years, the maximum annual nominal interest rate is 7%. Then, from 1 June 2023, it will be the interbank market reference interest rate for the 30-day term. This may be increased by a margin, provided the total annual interest rate does not exceed 7% per year.