Regulatory Alerts2020-06-16
Directive No. 02/DMA/2020, of June 17
The National Bank of Angola, through its Department of Asset Markets, issues this directive to enforce foreign exchange position limits for Banking Financial Institutions participating in FX auctions and on the FXGO platform. It caps institutional bids at four per auction, requiring that their total bid value does not exceed USD 1 million for entities with lower position limits, while mandating the immediate placement of any excess purchased currency on FXGO for resale. Non-compliance constitutes a punishable infraction under the Framework Law for Financial Institutions, with interpretive disputes resolved by the central bank and the directive taking effect upon publication.
Share