Regulatory Alerts1996-05-01
Directive No. 3/DSB/96: Foreign Exchange Houses – Sale of Foreign Currency
The Banking Supervision Directorate of the Bank of Angola prohibits Foreign Exchange Houses from selling foreign currency in cash while permitting sales via travelers' checks. Each customer is subject to a USD 5,000 acquisition limit, requiring the exchange house to record every transaction on the boarding pass with the corresponding date and amount. This directive takes immediate effect as part of ongoing foreign exchange policy adjustments.
DIRECTIVE NO. 3/DSB/96 SUBJECT: FOREIGN EXCHANGE HOUSES
- SALE OF FOREIGN CURRENCY. Pursuant to the directive of His Excellency the Governor of the Bank of Angola and within the scope of the changes being introduced to foreign exchange policy, we hereby notify Foreign Exchange Houses that:
- The sale of foreign currency in cash is prohibited;
- The sale of foreign currency in the form of travelers' checks is permitted.
- The acquisition limit per customer is USD 5,000.00 (five thousand US dollars), or its equivalent in another currency, with the Foreign Exchange House responsible for recording each transaction on the boarding pass, indicating the date and amount. This Directive takes immediate effect. BANKING SUPERVISION DIRECTORATE
Share