Regulatory Alerts2020-11-30
Circular Letter No. 01/DMC/2020
The Banco Nacional de Angola requires banking financial institutions to segregate domestic currency notes by series (2012 and 2020) when depositing them at the Central Strong Room, Regional Delegations, and Value Custodies. This mandate implements Instruction No. 06/2019 concerning Kwanza note deposit and withdrawal operations to standardize procedural compliance. Non-compliance with the series segregation rule will trigger the automatic rejection of the affected deposits by the central bank.
CIRCULAR LETTER NO. 01/DMC/2020 SUBJECT: FINANCIAL SYSTEM
- Banknote Segregation – Series 2012 and 2020
In order to update the rules and procedures related to the segregation of notes from series 2012 and 2020, in domestic currency deposit operations, in accordance with Instruction No. 06/2019 of July 5, regarding Deposit and Withdrawal Operations for Kwanza Notes, the Banco Nacional de Angola issues this Circular Letter to recommend the following:
- For deposits of domestic currency notes at the Central Strong Room, Regional Delegations, and Value Custodies, Banking Financial Institutions must perform segregation by series, specifically 2012 and 2020.
- The Banco Nacional de Angola warns that non-compliance with the preceding provision shall result in the rejection of said deposits. Luanda, November 27, 2020. DEPARTMENT OF CIRCULATING MEDIUM