Deposit Guarantee Fund

The Deposit Guarantee Fund (FGD) was established in 2018 through Presidential Decree No. 195/18 of August 22, which approved the Regulation of the Deposit Guarantee Fund.

The purpose of the FGD is to protect depositors and strengthen the stability of the Angolan financial system by guaranteeing the reimbursement of deposits held in Banking Financial Institutions authorized to accept deposits and domiciled in national territory.

Deposit Guarantee at African Bank of Oman (ABO)

Deposits held at African Bank of Oman, S.A. (ABO) are covered by the reimbursement guarantee provided by the Deposit Guarantee Fund (FGD) in the event that the Bank is unable to reimburse depositors.

The FGD guarantees reimbursement up to a maximum amount of AOA 12,500,000.00 (twelve million five hundred thousand kwanzas) per depositor and per institution, regardless of:

• whether the depositor is resident or non-resident in Angola;
• whether the deposit is in national currency or foreign currency.

Reimbursement of guaranteed deposits is made within up to three (3) months from the date on which the National Bank of Angola confirms and notifies the FGD of the unavailability of deposits. The period may be shorter if the FGD has the necessary conditions for early reimbursement, ensuring the security of the process.

Calculation of the Guaranteed Amount

To determine the amount of deposits covered by the FGD, the total aggregated value of all deposit accounts held by the same depositor on the date the unavailability occurred is considered, including interest accrued up to that date.

For deposits in foreign currency, the amount is converted into kwanzas (AOA) using the reference exchange rate published by the National Bank of Angola on the date of unavailability.

Joint Accounts

For joint accounts (accounts with more than one holder), and in the absence of a contractual provision to the contrary, the guaranteed amount is distributed equally among all holders.

Example:
If two holders have a joint account with AOA 200,000.00, each depositor will be considered to hold AOA 100,000.00 for reimbursement purposes.

Excluded Deposits

According to the FGD Regulation, certain deposits are not covered by the guarantee, including — among others — deposits:

• from financial institutions;
• from administrators, members of governing bodies, and major shareholders of the insolvent institution;
• constituted by related entities under applicable legislation.

Additional Information

For more information regarding the Deposit Guarantee Fund, you may consult:

• Presidential Decree No. 195/18 of August 22 – FGD Regulation
• Official website of the National Bank of Angola
• Complementary regulatory documentation issued by the FGD

ABO remains available to provide any additional clarification regarding deposit protection and the functioning of the Deposit Guarantee Fund.

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Registered office:

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