Regulatory Alerts2015-12-09
Instruction No. 20/2015 of December 9 on Exchange Rate Policy - Reporting and Monitoring of Exchange Transactions
The Governor of the Bank of Angola issued Instruction No. 20/2015 to enhance the quality of exchange rate policy monitoring by requiring all banking financial institutions to subscribe to the Swift FINinform reporting system. Institutions must complete this subscription by December 18, 2015, or prior to commencing operations if established after the instruction's publication, to ensure direct communication of international transaction data via MT103 and MT202 messages. Compliance is mandatory, as failure to subscribe results in exclusion from foreign currency trading sessions, while the Bank of Angola covers all associated service costs.
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