Regulatory Alerts2022-06-24
Instruction No. 06/2022, of June 24
The National Bank of Angola issues Instruction No. 06/2022 to update regulatory limits on foreign currency operations for Payment Service Providers, Money Exchange Houses, and remitters. The directive caps outbound value transfers and foreign currency sales (in cash or prepaid cards) at USD 5,000.00 per month per remitter and resident traveler over 18, while leaving inbound transfers unrestricted. Non-compliance constitutes a punishable administrative offense, authorizing the central bank to temporarily prohibit non-compliant remitters from national financial system operations and formally repeals Instruction No. 16/2018.
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