Regulatory Alerts2012-01-16
Banco Nacional de Angola Notice No. 01/2012 of January 16
The Banco Nacional de Angola issued Notice No. 01/2012 to revise cash control procedures under the new anti-money laundering and terrorist financing legal framework. The notice establishes mandatory declaration requirements for individuals entering or exiting Angola with foreign currency exceeding USD 15,000 (residents) or USD 10,000 (non-residents), while permitting residents to carry up to KZ 50,000 in national currency. It defines resident and non-resident statuses, specifies the dual-copy declaration process for customs clearance, and sets sanctions for non-compliance alongside a thirty-day implementation timeline.
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