Regulatory Alerts2019-11-04
Directive No. 04-DCC-2019, of November 5
The Foreign Exchange Control Department of the National Bank of Angola issues Directive No. 04/DCC/2019 to redefine "Foreign Exchange Arrears" as outbound transfer instructions awaiting foreign exchange coverage in commercial banks for more than 15 days, subject to specific documentation, national currency availability, and AML/CFT compliance. The directive requires commercial banks to continuously identify these arrears across all private and commercial operations involving goods imports, current invisibles, and capital transactions. It formally revokes Directive No. 02/DCC/2019 and enters into force upon publication, effective November 5, 2019.
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