Regulatory Alerts2013-04-22
Notice No. 07/2013 of April 22 on the Establishment, Operation and Termination of Exchange Houses
The Banco Nacional de Angola issued Notice No. 07/2013 to establish and harmonize the authorization, operational requirements, and termination procedures for exchange houses within Angola's financial system. The regulation mandates a minimum fully paid-up social capital of Kz 10,000,000.00 and requires comprehensive documentation—including proof of fund origin, criminal records, business plans, and corporate governance standards—for both individual and corporate applicants. It further defines permissible activities, funding mechanisms, expiration conditions, special registration timelines, and a tiered sanction framework for non-compliance.
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