Regulatory Alerts2018-11-21
Instruction No. 16/2018 of November 21 – Foreign Currency Sales Limits
The Bank of Angola establishes foreign currency sales limits for payment service companies and exchange offices, mandating a USD 2,000 monthly cap on international value transfers per remitter and beneficiary, alongside a USD 5,000 monthly cap on cash, traveler's checks, and prepaid card sales for residents over 18. These limits apply cumulatively across service points and are deducted from the Bank's global caps for current invisible operations. Non-compliance constitutes a punishable offense, empowering the central bank to suspend foreign exchange operations for non-compliant remitters for determined periods.
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