Regulatory Alerts2019-11-25
Notice No. 11/2019 of November 26
The National Bank of Angola issued Notice No. 11/2019 to establish maximum limits for commissions and fees on foreign currency transactions and mandate national currency as the standard charging unit for commercial banks. The regulation prohibits additional charges beyond those specified in its annex without prior central bank authorization and requires all non-foreign-currency-denominated fees to be reflected in domestic currency tariffs without foreign indexing. Non-compliance constitutes a punishable offense under the Framework Law of Financial Institutions, while revoking Notice No. 03/2019 and granting the central bank authority to update annexed limits based on market conditions.
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