Instruction 04-2017 of March 27

Avenida 4 de Fevereiro, nº 151 - Luanda, Angola - Caixa Postal 1243 Tel: (+244) 222 679 200 Fax: (+244) 222 339 125 www.bna.ao Governor's Office MOD. 150-005 D Avenida 4 de Fevereiro, nº 151 - Luanda, Angola - Caixa Postal 1243 Tel: (+244) 222 679 200 Fax: (+244) 222 679 217 www.bna.ao INSTRUCTION No. 04/17 dated March 27 Subject: Considering it necessary to provide greater agility to banking financial institutions in the settlement of merchandise import operations, aiming to address constraints arising from the scarcity of foreign exchange in the foreign exchange market, which have resulted in a considerable number of pending operations; While the current situation in the foreign exchange market prevails; Pursuant to the combined provisions of paragraph 2 of Article 28 of Law No. 5/97 of June 27, the Foreign Exchange Law, and Article 40 of Law No. 16/10 of July 15, the Law of the Bank of Angola; HEREBY DETERMINE:

1. The application of paragraphs 3 and 5 of Article 14 of Notice No. 19/12 of April 25 is temporarily suspended.
2. Banking financial institutions may carry out foreign exchange operations intended for the settlement of merchandise up to 720 (seven hundred and twenty) days from the date of the Single Document.
3. Foreign exchange operations intended for the settlement of merchandise with foreign entities that exceed the period stipulated in the previous paragraph shall be subject to licensing by the Bank of Angola in accordance with the regulations on capital operations.
4. Contracts that provide for merchandise payments with a term exceeding 720 (seven hundred and twenty) days after the date of the Single Document must also be handled in accordance with capital regulations. MERCHANDISE OPERATIONS - Temporary suspension of the application of paragraphs 3 and 5 of Article 14 of Notice No. 19/12 of April 25

MOD. 150-006 D Continuation of Instruction No. 04/17 Page 2 of 2 5. The suspension provided for in point 1 shall be in force for a period of 36 (thirty-six) months, counted from the date of publication of this Instruction. 6. This Instruction enters into force on the date of its publication. PUBLISH Luanda, on March 27, 2017. THE GOVERNOR VALTER FILIPE DUARTE DA SILVA Governor's Office