Regulatory Alerts2022-02-23
Guideline No. 01/2022, dated February 22 – Foreign Currency Purchases on the Bloomberg FXGO Platform by Major National Importers
The Central Bank of Angola has issued Guideline No. 01/2022 to expand foreign currency purchasing access on the Bloomberg FXGO platform for major national importers who meet specific tax and audit requirements. The regulation mandates that qualifying importers obtain authorization, subscribe to an FXGO terminal, and execute trades exclusively for paying non-resident foreign exchange suppliers, with transaction values above USD 50,000 traded on the platform and lower amounts handled directly by commercial banks. Furthermore, it establishes strict operational procedures, including a 48-hour payment deadline, residual balance limits of USD 100,000, and potential temporary or permanent trading prohibitions for non-compliance.
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