Regulatory Alerts2011-06-02
Notice No. 03/2011 of June 2, 2011
The Bank of Angola issued Notice No. 03/2011 to establish standards for value remittance services provided by authorized financial and non-financial institutions. The regulation defines key terms, classifies remittances as national or international, and imposes specific maximum limits of USD 5,000 monthly and USD 20,000 annually for outbound international transfers from residents. It further mandates strict record-keeping, identity verification, transparent disclosure of charges and exchange rates, and a 60-day adaptation period for service providers to comply with operational and reporting obligations.
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