Regulatory Alerts2023-01-10
Instruction No. 01/2023 of January 9
The Banco Nacional de Angola issued Instruction No. 01/2023 to standardize the reporting of foreign exchange transactions by banking financial institutions, mandating subscription to the SWIFT FIN inform system and strict adherence to MT103, MT202, and MT700 message formats. The regulation establishes precise data entry rules for purpose codes, tax identification numbers (NIF), and beneficiary details, while waiving additional fees to encourage compliance. Non-compliance triggers penalties under existing financial and foreign exchange laws, with the instruction taking effect 180 days after publication and revoking prior conflicting directives.
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