Regulatory Alerts2021-04-11
Notice No. 03/2021, April 12 – Specific Exchange Rate Rules Applicable to Non-Associated Natural Gas Exploration, Research, Development, Production and Sale
The National Bank of Angola issued Notice No. 03/2021 to establish specific exchange rate rules for entities engaged in the exploration, development, production and sale of non-associated natural gas and its derivatives. The regulation mandates that export sales be settled in foreign currency, with revenues deposited into domestic foreign-currency accounts, while domestic transactions between exporters are preferably conducted in national currency. Furthermore, it outlines procedures for foreign currency availability, capital operations, profit transfers, external financing, and SINOC registration, with compliance enforced under existing exchange rate and financial institution laws.
Share