Regulatory Alerts1993-11-16
Notice No. 12/93 of December 16
The National Bank of Angola issued Notice No. 12/93 to amend Article 10 of Notice No. 6/92, establishing clarified operational rules for Exchange Houses. The regulation authorizes these institutions to conduct foreign currency and travel check purchases and sales at free market rates for both residents and non-residents, while mandating the opening of specific domestic and foreign currency accounts with resident credit institutions. Furthermore, it restricts Exchange Houses to funding their treasury operations exclusively through share capital and trading profits, explicitly prohibiting the use of New Kwanzas financing for capital replenishment or expansion.
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