Regulatory Alerts2014-08-12
Notice No. 04/2014: Simplified Process for Payment of Imported Goods
The Bank of Angola issued Notice No. 04/2014 to establish a simplified payment process for imported goods, allowing authorized importers to bypass upfront documentation submission and make advance payments under specific limits. The regulation mandates strict eligibility criteria, including financial solidity and audit reports, while imposing a 12-month license validity subject to renewal and independent assurance work under ISAE 3000R. It further defines the compliance responsibilities of licensed companies, intermediary banks, and auditors, with violations punishable under Angolan foreign exchange and financial institution laws.
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