Regulatory Alerts2023-02-07
Directive No. 03-2023 of February 2, 2023
The Banco Nacional de Angola’s Department of Markets issued Directive No. 03-2023 to consolidate and standardize the foreign currency mandatory reserve accounts for banking financial institutions. The directive designates the US Dollar, Euro, and South African Rand as compliant currencies, mandates daily closing balance reporting at the central bank’s correspondent account, and requires commercial banks to submit confirmation and release requests via email. It revokes Directive No. 01/DSP/17, clarifies interpretive ambiguities under the central bank’s authority, and takes effect on February 13, 2023.
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