Financial Inclusion

Glossary

Adware – program designed to display advertising. It can be used legitimately when incorporated into programs and services, as a form of sponsorship or financial return for those who develop free programs or provide free services. It can also be used for malicious purposes when the displayed advertising is directed according to the user's navigation;

Agent surplus - entities or people who have savings or surplus liquidity and do not have to apply them;

Annuity - Annual fee charged by Banks for clients with credit card contracts, regardless of its usage;

Antivirus - programs that detect the presence of viruses and other malware on your computer, ensuring the integrity of the equipment and its information;

Application (financial) - a term used to refer to a financial product or an investment in a financial product.

Assets (financial) - A resource that has economic value owned by an individual or company held in the financial market (eg shares, bonds, government bonds);
Bank clearing - the process in which the bank deals with a financial commitment, and then makes a settlement or transfer of funds, following strict regulations set by the payment system in Angola;

Browser – application that lets you surf the Internet, such as Internet Explorer, Mozilla and Google Chrome.
Capital – The monetary amount owned by an individual or a company that is available for any desired purpose;

Capital Market Commission (CMC) – an entity that regulates, supervises and monitors the activity, operation and the agents involved in the Securities Market;

Carding – handling and collection of personal data on the face or on the magnetic strips of credit cards, debit or telecommunications;

Card account – account assigned to the holder of a credit card with the value of the amount allocated by the card issuer;

Cashpoint or ATM – equipment that allows authorized users (normally holders of valid cards for financial transactions in a particular system) access to financial services and otherwise, including cash withdrawals

Certificates (deposits) – registered securities representing deposits, made with the banks that issue them;

Cheques – document where the account holder orders his/her bank, against the debit from his/her account, to pay a certain amount to a beneficiary;

Code of Conduct – a set of standards / ethical rules produced by an organization which provide guidance and regulation of their activities;

Commissions - benefits payable to clients by financial institutions, as consideration for the services they provide, or subcontracted to third parties in the course of its business;

Credit – A promise or contractual agreement between the borrower and the lender (banking/non-banking institution), to fund an agreed monetary amount that will be repaid by the borrower at an agreed later date;

Credit card – A method of payment that is associated to an account (aka card account) with a credit line. It allows the holder to purchase goods and services with the amount being settled later according to the conditions of the card issuer. The withdrawal of cash generally requires payment of a fee for a cash advance;

Creditor – holder of a credit right;

Cryptography – a technique used to encode information such that only the sender and the receiver can understand it, preventing third party’s ability to interpret it, if they are intercepted.
Debit card – payment method that allows the holder electronic access to his/her deposit account, to which the card is associated. Can be used in an automatic payment terminal (through funds transfer), or an ATM, allowing the performance of various operations;

Deficit agent – entities or people without savings who need liquidity for their investments or investments;

Deposits – contract by which one party (depositor) entrusts money to a bank or financial institution (depository), which has the right to dispose of it for their business, taking responsibility for the refund, with or without interest, within an agreed time period;

Deposit current account – form of deposit in which the bank is obliged to repay the money at any time that the client has entrusted to it;

Digital Security Certificate – is a guarantee provided by an entity that confirms the identity of the holder of the digital certificate and the site's security level. To view the security certificate of any website one must click on the lock icon in the browser address bar;

DNS – the English term Domain Name Server, the system of domain names is responsible for translating the domain name to the corresponding IP address and vice versa, among others. It works as a catalogue of numeric Internet addresses so that a site can be located.
Exchange – also known as the exchange rate or price. Designates the price or value of a foreign currency expressed in a national currency;
Financial intermediation – An activity carried out by banks, which acts as an intermediary (middleman), and matches savings in the form of deposits and other assets, to where capital is required in the form of bank credit;

Financial transfer – also called Factoring, is the distribution of short-term credit derived from a sale or provision of services in domestic or foreign markets, for the immediate claim to the product or service;

Firewall – application that creates a barrier to prevent unauthorized access to your computer;

Fraud – unlawful action or bad faith in order to obtain personal benefits, directly or indirectly.
Guaranteed capital – the application deadline ensures at least the amount invested.
Hire safes – service provided by the bank that gives a "space" autonomous and individualized for your clients, so they can then save the valueables they see fit;

Home banking – access to a bank over the internet, allowing the management of bank accounts, access to banking instruments and making payments from a computer or mobile phone;

HTTPS (HyperText Transfer Protocol Secure) – protocol that allows Internet users to use more secure web pages and information servers, since HTTPS enables the encryption and transmission of information via secure connections through security mechanisms such as SSL and TLS.
Income capitalization – action and also the effect of adding cumulatively to a capital interest earned as a result of the application of capital;

Interest rate – the fee that the borrower must pay the owner of the borrowed capital for a certain period of time expressed as a percentage;

Invested capital – the amount or value applied to a bank or financial product;

Investment – investment of funds aimed at obtaining a certain income.
Joint account – application that continually recognizes the keys that the user presses, allowing third parties to use this information without the user’s knowledge.

  • Joint is the debt handling arrangements in which the signatures of all owners are required;
  • Shared is the debt handling procedures in which just the signature of one of the holders is required;
  • Mixed is the debt handling procedures to debit where one of the signatures of the holders is valid, in accordance with the provisions at the opening of the account.
Keylogger – application that continually recognizes the keys that the user presses, allowing third parties to use this information without the user’s knowledge.
Lack of capital – time where the benefits paid are only composed of interest, keeping the outstanding principal unchanged. During this period the loan does not amortize, and pays interest only;

Loan – contract by which one party makes available to another funds to be repaid;

Loan Amortization – also known as loan settlement. Process of clearing debt through repayment of principal.
Malware – A general term used to describe programs developed to perform harmful actions and malicious activity on your computer or mobile device. The specific types of malware are viruses, spyware, Trojan horses, among others.

Management fee - commission charged periodically to a fund designed to remunerate the management company for their service;

Microcredit – granting of small loans to individuals, small informal entrepreneurs and micro-enterprises with no access to the traditional banking system;

Mobile Banking – access to the bank via a mobile device with Internet connection (3G, GSM / GPRS or Wi-Fi), allowing the management of bank accounts, access to banking instruments and making payments;

Mobile Money – payment service and money transfers via mobile phone, exclusive to clients at Banco Postal / Xikila Money. It is a virtual account where the client can store their money safely for use in banking transactions.

Mortgage loans – loan intended for the purchase, construction or undertaking of conservation at permanent residence, secondary or the acquisition of land for construction of permanent housing;

Mouselogger – application that continuously recognize mouse clicks that the user makes, allowing third parties to use this information without the user’s knowledge;
National Bank of Angola (BNA) - also known as the Central Bank has, among other functions, that of the regulator supervisor of the national financial system to ensure its stability.
Paychecks – settlement of a cheque, to the recipient’s credit account or in cash;

Personal loan – also called consumer credit. Designates credits with a financial plan, granted for a fixed period, with repayment by instalments in monthly general capital and interest;

Pharming – type of computer attack that exploits the vulnerabilities of browsers, operating systems and the DNS servers in order to redirect the browsing habits of users to fake sites, through changes in the service of DNS (domain name responsible for the translation of domain names into the corresponding IP address and vice versa);

Phishing - technique that uses e-mail and fraudulent Web sites designed to obtain personal and financial data of a user, through the combined use of technical means and social engineering;

PIN – the secret code required for the use of debit and credit cards. PIN stands for Personal Identification Number;

Prepaid card – means of payment organised prior to the use of certain amounts that will subsequently be used in specific terminals;

Price list – set of constantly updated terms and conditions of costs and charges for financial products and services available to the public from financial institutions, consisting of the price list of fees and expenses and the pricing of Interest Rates. This fee structure must comply with the Notice No. 2/14 of 20 March 2014.
Quote – also known as exchange or exchange rate. Designates the price or value of a foreign currency expressed in national currency;
Repayment terms – agreement between parties relating to the amortization of the loan;
Savings – Difference between disposable income and what you spend on consumption;

Screenlogger – application that takes a picture of the computer screen to see what the user sees, allowing third parties to use this information without the use’s knowledge;

Secure connection – connection that uses a cryptographic protocol for the transmission of data, such as HTTPS or SSH;

Site – set of pages on the Internet, identified by a specific domain name;

Skimming – capture of information from the magnetic stripe of a card and its PIN, allowing subsequent cloning of the original card;

Spam – unsolicited e-mail messages, which are usually sent to a large number of people;

Spread – percentage of increase or decrease in relation to a particular interest or exchange rate;

Spyware – program designed to surreptitiously monitor activities of a system and send the collected information to third parties. The most common types of spyware are keylogger, mouselogger, screenlogger and adware;

SSL – from the English Secure Sockets Layer, is a protocol that uses encryption to ensure the confidentiality and integrity of communication between a client and a server and can be used for authentication;
Transfer – debit transaction from the account of a particular holder for credit to another account held by the same holder or to other holders, of the same bank or other banks in the same country or other countries;

TSL – the English term Transport Layer Security is a protocol that uses encryption to ensure the confidentiality and integrity of communication between a client and a server and can be used for authentication.
User Agreement – an agreement by which the issuer provides the payment card to its holder and contains the terms and conditions of use. This contract must comply with the Notice No. 10/12 of 2 May 2012.
Virus – program (or portion of a program) that can infect other programs and files on a computer. To do this, the virus installs a copy of itself in a program or file, and depends on the opening of the program or host file to become active and to continue the process of infection.

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