The Central Bank mentions Law no. 20/2020, of December 31 – Credit Institutions and Financial Companies Law (LICSF), Notice no. 11/GGBM/99, of December 13 – Internal Control Standards (NCI), Notice no. Among the irregularities detected by the Bank, the Bank of Portugal has adopted the following Regulations: Notice no. 2/GBM/2018, of April 16 – Code of Conduct for Credit Institutions and Financial Companies (CCICSF), Notice no. 9/GBM/2020, of December 31 – Regulation for Handling Complaints (RTR), and Notice no. 1/GBM/2003, of February 28 – Regulation for Valuing the Use of Checks (RC).
Among the irregularities detected by the Central Bank are the supply of financial products without prior and express request or agreement from the client (LICSF); Improper registration of a client’s name in the Central Credit Register (LICSF); Non-observance of the regulatory deadline for responding to client complaints (RTR); Non-observance of the deadline for responding to Bank of Mozambique notifications within the scope of client complaint processes (RTR).
Also in the irregularities are the collection of credit installments from an entity that is not a client of the institution (NCI); Breach of the duty of proper credit administration (NCI); and return of customer checks without mention, on the back of the checks, of the reasons for the return (RC).
