Regulatory Alerts2018-12-11
Directive No. 01-DMA-2018, of December 7, 2018
The National Bank of Angola's Assets Markets Department issued Directive No. 06/DMA/2018 to adjust the process for determining primary market reference exchange rates and commercial bank pricing. The directive mandates that commercial banks submit daily interbank foreign exchange transaction data via the Financial Institutions Supervision System (SSIF) in XML format, with specific submission deadlines of 12:00 and 16:30 for morning and afternoon transactions respectively. Failure to comply with these reporting obligations or timely submission incurs penalties under existing financial and foreign exchange laws, while the department retains authority to resolve interpretive ambiguities.
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