Regulatory Alerts2010-12-15
Notice No. 07/2010 of December 15
The Banco Nacional de Angola issued Notice No. 07/2010 to regulate foreign exchange operations conducted by hotel companies, travel and tourism agencies, and duty-free shops. The Notice mandates that these entities obtain prior licensing from the central bank, issue detailed receipts for all currency purchases, and display freely negotiated exchange rates publicly. It further imposes monthly reporting obligations, a ten-year archival requirement, and establishes warnings, monetary fines, or license suspensions for non-compliance.
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