Regulatory Alerts2023-01-17
Instruction No. 2/2023 of January 12 on Foreign Exchange Policy and Control
The Bank of Angola, through its Governor José de Lima Massano, issued Instruction No. 2/2023 to eliminate the mandatory independent foreign exchange control function for Banking Financial Institutions. The directive requires these institutions to maintain organizational structures, corporate culture, and internal control systems that ensure strict compliance with all applicable foreign exchange legislation. Non-compliance with these requirements constitutes a punishable offense under Angola’s Foreign Exchange Law, Anti-Money Laundering and Counter-Terrorist Financing Law, and General Financial Institutions Regime.
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