Regulatory Alerts1995-06-28
Instruction No. 03/96: Exchange Policy for Merchandise Operations
The National Bank of Angola, via Instruction No. 03/96, establishes updated foreign exchange regulations governing merchandise imports, specifically detailing procedures for transactions without foreign exchange reserves, those funded by own accounts, and those under warehousing or customs regimes. The directive mandates Central Bank approval for reserve-exempt imports, requires commercial banks to execute simultaneous currency purchase and resale operations for own-fund imports, and standardizes documentation submission to the Ministry of Commerce and Central Bank. It explicitly revokes Article 4 of Instruction No. 4/95 and takes immediate effect to systematize and modernize Angola's import exchange controls.
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