Notice No. 12/2015 of 29 December - Exchange Rate Policy

NOTICE NO. 12/2015
SUBJECT: EXCHANGE RATE POLICY

• Monetary Conversion Agreement between the National Bank of Angola and the Bank of Namibia
• Entry and exit of national currency and foreign currency at the Santa Clara land border (Angola)
• Operational rules to be observed by financial institutions

Given the need to define new rules within the framework of procedures for transactions to be carried out by banking financial institutions and exchange houses, under the Monetary Conversion Agreement concluded between the National Bank of Angola and the Bank of Namibia.

Considering the need to adopt a new mechanism for the implementation of the aforementioned agreement, and to establish new procedures regarding the transport of national currency and foreign currency at the land border of Santa Clara (Angola) and Oshikango (Namibia).

In the exercise of the competence conferred upon me by item f) of paragraph 1 of Article 51 of Law No. 16/10, of July 15 - Law of the National Bank of Angola, and paragraph 2 of Article 28 of Law 05/97, of June 27 - Exchange Law.

I DETERMINE:

Article 1.
(Sale operations of Namibian Dollars)

1. Banking financial institutions and exchange houses may sell to resident individual persons over 18 years of age, at their branches in Santa Clara, in the Cunene Province, Namibian Dollars (NAD) acquired from the National Bank of Angola, at the exchange rate defined daily by the same.
2. In the operations referred to in the previous paragraph, the identification of the buyer is mandatory, by presenting a document that enables crossing the border with Namibia, namely, passport, border pass, or safe-conduct.
3. The operations referred to in paragraph 1 of this article may be carried out up to the amount in Namibian Dollars equivalent to Kz 30,000.00 (thirty thousand Kwanzas) per person, weekly.

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Article 2.
(Proof of operation)
In carrying out the operations referred to in the previous article, banking financial institutions and exchange houses must issue receipts, containing the customer's name, the transaction value, the exchange rate, the date of the operation, the customer's identification document number, and their signature.

Article 3.
(Sending of information)

1. Banking financial institutions and exchange houses must inform the National Bank of Angola, weekly, of each Namibian Dollar sale operation, according to the attached model.
2. The information regarding each week must be sent by 9:00 AM on the first business day of the following week, through the Financial Operations Supervision System - SSIF. While SSIF availability is not verified, the aforementioned information must be sent in an electronic file, Excel format, to the email address dcc@bna.ao.

CONTINUATION OF NOTICE NO. 12/2015 Page 3 of 4

3. The failure to send the information results in the exclusion of the banking financial institution or exchange house from the Namibian Dollar sale sessions carried out by the National Bank of Angola.

Article 4.
(Entry and exit of national and foreign currency) The transport of national and foreign currency by resident and non-resident individuals at the Santa Clara and Oshikango land border must comply with the limits established in Notices No. 1/12, of January 27, and No. 28/12, of November 1, both from the National Bank of Angola, regarding the entry and exit of cash from the country.

Article 5.
(Doubts and omissions)
Doubts and omissions resulting from the interpretation and application of this Notice are resolved by the National Bank of Angola.

Article 6.
(Revocation)
Notices No. 10/15, of June 16, and Instructional No. 11/15, of June 18, are revoked.

Article 7.
(Entry into Force)
This Notice enters into force immediately.

PUBLISH
Luanda, December 21, 2015
THE GOVERNOR
JOSÉ PEDRO DE MORAIS JÚNIOR

ANNEX
Day Month Year Document Type
Document Number
Father's Name
Mother's Name
Legend:
OPERATION DATE: Day, month, and year of NAD sale COMMISSION VALUES: Value of commissions charged in the operation AMOUNT IN NAD: Value of the operation in the purchased currency COUNTERVALUE IN AKZ: Countervalue in national currency EXCHANGE RATE: Rate used for NAD in relation to AKZ PARENTAGE: Full names of the buyer's father and mother, without abbreviations Map of Report of Namibian Dollar (NAD) Sale Operations INSTITUTION ACRONYM: Abbreviated form of the Financial Institution's name OPERATION REFERENCE: Registration number of the operation in the institution's computer system BUYER'S NAME: Full name, without abbreviations, of the individual buyer of NAD BUYER'S IDENTIFICATION DOCUMENT: Type (passport, border pass, or safe-conduct) and number of the identification document

Operation Date Buyer's Identification Document Amount in NAD Countervalue in AKZ Commission Value Exchange Rate Parentage Institution Acronym Operation Reference Buyer's Name