Regulatory Alerts2019-07-04
Instruction No. 07/2019 of July 5: Value Limits for Operations in Angola's Payment Systems
The National Bank of Angola issues Instruction No. 07/2019 to establish maximum value limits for checks, Multicaixa network transactions, credit transfers, direct debits, and real-time gross settlement operations. The directive sets daily caps for card withdrawals at Kz 50,000 and POS purchases at Kz 6 million, while capping service fees for transactions above Kz 1,000 at 1% with a maximum of Kz 2,000. Operations conducted by the Ministry of Finance are exempt from these limits, and non-compliance triggers sanctions under existing financial laws.
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