Regulatory Alerts1996-07-02
Notice No. 10/1996, of July 3
The Banco Nacional de Angola issued Notice No. 10/1996 to update regulatory requirements for Currency Exchange Houses under Angola's new economic guidelines. The Notice mandates a minimum fully paid-up share capital of 3.5 billion Adjusted Kwanzas, requires prior authorization for qualified share acquisitions and new counter openings, and establishes strict operational, accounting, and reporting standards. It further defines authorized foreign currency transactions for residents and non-residents, outlines a tiered penalty system for non-compliance, and repeals the previous Notice No. 8/95 effective immediately upon publication on July 3, 1996.
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