Regulatory Alerts2019-11-06
Notice No. 09/2019 of 6 November on Payment Services – Operational Rules for Value Remittances
The Bank of Angola issued Notice No. 09/2019 to establish updated operational rules for value remittance services provided by authorized financial and non-banking payment service providers within Angola. The regulation mandates strict identity verification, AML/CFT compliance, freely negotiated exchange rates, and exclusive national currency billing for commissions, while imposing specific processing timelines, reporting obligations, and external audit requirements. It repeals the previous Notice No. 11/18 and takes effect immediately upon publication to support a market-driven foreign exchange regime.
Share