RegAlert

Rule · BNA · 31 Dec 1996

Directive No. 14-DSB-1997, dated January 01

fx

The Banking Supervision Directorate establishes an 11% commission rate for commercial banks selling Traveller’s Cheques to exchange offices, applying the fee to both office and direct client transactions while capping individual sales at USD 100,000. Under Law No. 4/96, these transactions are exempt from Stamp Duty, and banks must submit regular detailed reports of sales values and dates to the Directorate. The directive immediately supersedes point 3 of Directive No. 08/97 and all of Directive No. 10/97, standardizing commission structures and reporting requirements across the sector.

AngolaBanco Nacional de Angola

DIRECTIVE NO. 14/DSB/97
SUBJECT:

COMMERCIAL BANKS
SALE OF TRAVELLER’S CHEQUES TO EXCHANGE OFFICES In order to minimize the anomalies recorded in the sale of Traveller’s Cheques and as an amendment to the guidelines of Directive No. 08/97, dated July 31, 1997, it is established:
1 - The commission rate of the Banco Nacional de Angola to be charged on operations for the sale of Traveller’s Cheques to Exchange Offices shall henceforth be 11% (eleven percent) and shall apply to operations with exchange offices and with the bank's own clients. 2 - Regarding exclusive operations of banks with their clients, the commission referred to in the preceding subsection shall be charged during foreign exchange sales sessions. 3 - We clarify that, under Law No. 4/96, dated April 12, operations for the sale of Traveller’s Cheques by Banks to Exchange Offices are exempt from Stamp Duty. 4 - The maximum limit per sale of Traveller’s Cheques to be made to Exchange Offices shall be USD 100,000 (One hundred thousand US Dollars). 5 - For control and value replenishment purposes, Commercial Banks shall regularly submit to the Banking Supervision Directorate a detailed report of values sold to exchange offices and their respective dates. 6 - Points No. 3 of Directive No. 08/97 and Directive No. 10/97, dated September 15, are hereby revoked.

7 - This directive enters into force immediately.
BANKING SUPERVISION DIRECTORATE

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Law No. 4 dated 1996-04-12Not in RegAlertLaw No. 4 dated 1996-04-12 — Not in RegAlertDSB Directive No. 10 dated1997-09-15Not in RegAlertDSB Directive No. 10 dated 1997-09-15 — Not in RegAlertDSB Directive No. 8 dated1997-07-31Not in RegAlertDSB Directive No. 8 dated 1997-07-31 — Not in RegAlertDirective No. 14-DSB-1997,dated January 011996-12-31 · this documentDirective No. 14-DSB-1997, dated January 01 (1996-12-31)
amendssupersedesissued underrefers todashed card: not in RegAlert (or proposed)arrows run from the older text to the one that changes it
The links and the sentences they come from (3)
Amends
  • DSB Directive No. 10 dated 1997-09-15Not in RegAlert

    “Points No. 3 of Directive No. 08/97 and Directive No. 10/97, dated September 15, are hereby revoked.”

  • DSB Directive No. 8 dated 1997-07-31Not in RegAlert

    “as an amendment to the guidelines of Directive No. 08/97, dated July 31, 1997”

Issued under
  • Law No. 4 dated 1996-04-12Not in RegAlert

    “under Law No. 4/96, dated April 12, operations for the sale of Traveller’s Cheques”

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