Regulatory Alerts2019-11-05
Notice No. 08/2019 of 6 November - Money Exchange Houses Operational Rules
The National Bank of Angola issued Notice No. 08/2019 to establish operational rules for money exchange houses, consolidating foreign exchange policy measures and aligning them with a market-determined exchange rate regime. The regulation mandates strict internal controls, standardized procedures for foreign currency transactions, and enhanced anti-money laundering and terrorist financing compliance, including mandatory client identification and transaction monitoring. Furthermore, it imposes rigorous reporting obligations, requiring daily exchange rate submissions, quarterly financial statements, annual external audits, and the maintenance of a public institutional portal with comprehensive operational and compliance disclosures.
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