Regulatory Alerts2021-04-14
Notice No. 04/2021 of April 14: Exchange Rate Policy - Rules and Procedures Applicable to Import and Export Operations
The Bank of Angola issued Notice No. 04/2021 to establish simplified and updated exchange rate rules governing foreign currency settlement for the import and export of goods in Angola. The regulation mandates that all such transactions be processed through Banking Financial Institutions, requiring detailed client due diligence, mandatory registration in the SINOC system, and strict documentary compliance for advance payments, documentary credits, and bank guarantees. It further outlines settlement procedures, special import regimes, export revenue repatriation, compensation mechanisms for irregular exports, and enforcement sanctions to ensure market stability and regulatory adherence.
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