Regulatory Alerts2019-07-05
Instruction No. 05/2019 on the Treatment of Notes with Dubious Legitimacy
The Banco Nacional de Angola issued Instruction No. 05/2019 to standardize the immediate retention and laboratory verification of Kwanza notes suspected of counterfeiting or forgery. Financial institutions, travel agencies, hotels, and commercial establishments must promptly seize suspicious notes, submit them with completed retention forms to the Circulating Medium Department within five days, and refrain from altering their physical characteristics. The BNA conducts laboratory analysis and issues an expert report within thirty days, after which verified notes are returned to holders while counterfeit foreign currency notes are forwarded to competent authorities, with non-compliance subject to penalties under the Basic Law of Financial Institutions.