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2018-12-11

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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Banco Nacional de Angola

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THE GOVERNOR Considering the terms of Instruction No. 20/2018, dated December 3, regarding Exchange Rates; There is a need to adjust the process for determining reference exchange rates of the primary market and the exchange rates that must be practiced by Commercial Banks. This Directive serves to establish the following:

  1. Commercial Banks must send daily, to the National Bank of Angola, information on transactions executed in the interbank foreign exchange market, as follows: a) By 16:30 – all transactions carried out between 11:31 and 16:00; b) By 12:00 – all transactions carried out between 8:00 and 11:30.

  2. The information referred to in the preceding paragraph must be submitted in XML format through the Financial Institutions Supervision System (SSIF).

DIRECTIVE No 06/DMA/18 ORIGIN: ASSETS MARKETS DEPARTMENT (DMA) DATE 07/12/2018 SUBJECT: SUBMISSION OF INTERBANK FOREIGN EXCHANGE MARKET INFORMATION

Directive No. 06/DMA/2018 Page 2 of 3

  1. Until it is possible to submit the information in the model referred to in the preceding paragraph, it must be sent in Excel format via email to dma@bna.ao, according to the attached model, which is an integral part of this Directive.
  2. The responsibility for submitting the information referred to in the preceding paragraph lies with the selling Bank.
  3. The omission of providing the information stipulated in this Directive is punishable under Law No. 12/15, dated June 17, the Basic Law of Financial Institutions, and under Law No. 5/97, dated June 27, the Foreign Exchange Law, without prejudice to any other potentially applicable legislation.
  4. The untimely submission of the information stipulated in this Directive is punishable under Notice No. 10/18, dated November 29.
  5. Doubts and omissions arising from the interpretation and application of this Directive are clarified by the Assets Markets Department.
  6. This Directive enters into force immediately.

Luanda, December 7, 2018. ASSETS MARKETS DEPARTMENT

Maria Cândida Sambingo -Director-

Directive No. 06/DMA/2018 Page 3 of 3 ANNEX

Currency Purchase, Sale and Conversion Transactions / Foreign Exchange Operations

Institution | Type of Operation | Date of Operation | Counterparty Institution | Currency Delivered | Amount Delivered | Currency Received | Amount Received | Exchange Rate

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