Region

Jurisdiction

Regulator

1996-06-27

Instruction No. 02/96

The Governor of the Central Bank mandates that all imports utilizing exporter credit be subject to Central Bank analysis, requiring importers to attach the relevant credit terms when submitting files to Commercial Banks. These banks must forward the documentation to the Central Bank for approval and subsequently notify clients that they must fulfill all standard import formalities. This instruction takes immediate effect to ensure optimal control and respect for the country's external financial debt levels.

Angola

Banco Nacional de Angola

INSTRUCTION NO. 02/96

SUBJECT: EXCHANGE RATE POLICY EXPORTER CREDIT

Considering that an optimal and sound management of the country's external financial resources requires control and respect for debt levels. Given the need to regulate the use of exporter credit in the process of importing goods,

I HEREBY DETERMINE: Article 1

All imports of goods to be carried out using credits granted by the exporter shall be subject to analysis by the Central Bank. In this regard, the importer must comply with the following: a) When submitting the import file to Commercial Banks, the importer must attach the terms and conditions of the credit regarding the goods they wish to import. b) The Commercial Bank shall forward the aforementioned file to the Central Bank for a decision, which will subsequently return it to the respective Bank. If this decision is favorable, the Commercial Bank shall inform its client that it must comply with all formalities related to the normal import process of goods. Article 2 This instruction takes effect immediately. Luanda, July 28, 1996 . Luanda, July 28, 1996. THE GOVERNOR SEBASTIÃO BASTOS LAVRADOR