Regulatory Alerts2020-01-16
Notice No. 01/2020, dated January 9
The Banco Nacional de Angola, through Governor José de Lima Massano, amends Article 5 of Notice No. 05/18 to permit banking financial institutions to execute merchandise import operations with settlement periods exceeding three hundred and sixty days without prior authorization. This regulatory update simplifies administrative licensing procedures by aligning current practices with Law No. 5/97 and Law No. 16/10. Non-compliance with these provisions constitutes a punishable offense under the Exchange Rate Law and the Basic Law of Financial Institutions, while any interpretive doubts remain subject to resolution by the central bank.
Share