Regulatory Alerts2019-03-30
Notice No. 03/2019, dated March 31
The National Bank of Angola issued Notice No. 03/2019 to establish maximum limits on fees, charges, and exchange margins for foreign currency transactions, while mandating that all such costs be calculated in foreign currency but collected exclusively in national currency. The regulation applies to supervised Commercial Banks, caps specific transaction fees (e.g., 2% for prepaid card reloads and 7.5% for credit card cash advances), and restricts additional charges to those explicitly listed in the Annex without prior regulatory approval. Non-compliance constitutes a punishable offense under financial institution laws, with commercial banks required to align their pricing schedules within 60 days of publication.
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