Regulatory Alerts2018-07-02
Notice No. 05/2018: Exchange Rate Policy - Rules and Procedures for Import and Export of Goods
The Bank of Angola issued Notice No. 05/2018 to update the regulatory framework governing foreign exchange operations for the import and export of goods in Angola. The notice mandates that all such transactions be settled through authorized banks, establishes specific payment modalities like documentary credits and advance payments, and imposes strict documentation and reporting requirements to ensure compliance. It further regulates export proceeds by requiring the sale of 50% of foreign currency earnings to the intermediary bank within five days and outlines procedures for special import regimes and dispute resolutions.
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