Regulatory Alerts2018-07-19
Instruction No. 09/2018 of 2 July on Foreign Exchange Policy – Limits for Foreign Exchange Operations in Goods
The National Bank of Angola, through Governor José de Lima Massano, issues Instruction No. 09/2018 to establish foreign exchange limits for goods transactions, aiming to control the country's foreign currency debt and ensure predictable cross-border fund flows. The directive sets specific per-transaction and annual caps for advance payments, documentary remittances, and collections (capped at EUR 1 million annually per importer), while mandating documentary credits for import values exceeding EUR 100,000. It further grants the central bank discretion to approve alternative payment regimes for durable goods or wholesale commodities and imposes penalties on banks that violate these provisions.
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