Regulatory Alerts2018-04-02
Directive No. 01-DCC-2018 of April 3
The National Bank of Angola’s Department of Exchange Control issued Directive No. 01-DCC-2018 to mandate differentiated exchange control treatment for pre- and post-January 1, 2018 foreign currency operations. Commercial banks must submit a single validated Needs Map for all unsettled arrears payments registered by December 31, 2017, by April 26, 2018, while shifting to a weekly submission format for all current operations thereafter. The BNA will subsequently publish a schedule and criteria for regularizing the arrears portfolio, with any interpretive ambiguities resolved exclusively by the issuing department.
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