Regulatory Alerts2020-12-22
Notice No. 23/2020 of December 29
The National Bank of Angola issued Notice No. 23/2020 to establish unified rules and procedures for foreign exchange receipts and transfers abroad ordered by State organs, including direct and indirect administration bodies, the National Assembly, and superior justice authorities. The regulation mandates that banking financial institutions validate supporting documents, register operations in the SINOC system, and ensure settlement via bank transfers using either the ordering officer's own foreign currency or purchased foreign exchange. Non-compliance triggers penalties under existing foreign exchange and financial institution laws, while contracts exceeding USD 25,000 require formal validation and specific technical sheet registration.
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