Regulatory Alerts2017-12-01
Instruction 05-2017 of December 1st on Exchange Rate Policy
The Governor of the Banco Nacional de Angola issued Instruction 05-2017 to revoke specific prior directives and adjust foreign exchange regulations to better align with monetary policy objectives. The instruction mandates the immediate release of national currency funds previously held as collateral at the central bank and abolishes the requirement for such collateral at commercial banks. Furthermore, it restricts foreign exchange operations to clients with an active Tax Identification Number and establishes penalties for non-compliance by financial institutions.
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