Regulatory Alerts2023-10-27
Notice No. 11/2023 on Exchange Rate Policy
The Bank of Angola, through Notice No. 11/2023 issued by Governor Manuel António Tiago Dias, amends Article 5, Point 3 of Notice No. 02/20 to exempt accredited embassies, diplomatic, and consular missions in Angola from licensing for current invisible exchange operations ordered by legal entities. Banking financial institutions must ensure that transferred funds originate from the missions' home countries or derive from Angolan consular services, verify operational compliance and proper execution, and record settlements according to existing regulations. Failure to comply triggers sanctions under the Exchange Rate Law and Financial Institutions Regime, with all interpretative doubts and omissions resolved by the Bank of Angola.
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