Regulatory Alerts2019-07-04
Instruction No. 06/2019 of July 5 – Financial System: Kwanza Banknote Deposit and Withdrawal Operations
The Banco Nacional de Angola issued Instruction No. 06/2019 to standardize the operating hours, rules, and procedures for cash deposit and withdrawal operations at its strongrooms, regional delegations, and authorized custody services. The directive mandates that banks conduct a maximum of three weekly deposits and withdrawals between 8:30 and 13:30, utilizing standardized packaging of ten thousand notes each, while requiring advance electronic notification via a dedicated portal. It further establishes strict labeling, packaging, and condition-based classification (fit, unfit, deteriorated) for banknotes, revokes previous conflicting regulations, and takes effect thirty days after publication.
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