Regulatory Alerts1995-08-07
Notice No. 8/95 of August 8
The National Bank of Angola issued Notice No. 8/95 to establish updated regulatory requirements for the authorization, operation, and supervision of currency exchange houses. The notice mandates a minimum paid-in capital of 240 million Adjusted Kwanzas, requires prior approval for qualifying holdings and new counter openings, and restricts treasury funding to share capital and operational profits without external borrowing. It further outlines permissible foreign exchange transactions with residents and non-residents, prescribes strict accounting and reporting obligations, and establishes a tiered system of administrative sanctions for non-compliance.
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