Instruction No. 05-2017 of December 1, 2017 on Exchange Rate Policy — BNA — AO

INSTRUCTION NO. 05/2017 of December 1
SUBJECT: EXCHANGE RATE POLICY

Revocation of Instruction No. 12/15 and points 4.1.4, 4.1.5, 4.1.6, and 4.1.7 of Instruction No. 10/2015, of June 4

Considering that the procedures for participation and execution of foreign currency purchase and sale sessions were established by Instruction No. 10/2015, of June 4;

There is a need to better reconcile the operationalization of the foreign exchange market with the objectives of monetary and exchange rate policies;

Taking into account the need to adjust foreign exchange regulation regarding the process of purchasing foreign currency for the realization of foreign exchange operations for goods, invisible current transactions, capital, and sales to Exchange Houses;

In the exercise of the competence conferred upon me by Article No. 51 of Law No. 16/10, of July 15, the Law of the National Bank of Angola.

I DETERMINE:

Instruction No. 12/2015, of June 24, and points 4.1.4, 4.1.5, 4.1.6, and 4.1.7 of Instruction No. 10/2015, of June 4, are revoked.
With the entry into force of this Instruction, national currency resources held as collateral at the National Bank of Angola for the purpose of acquiring foreign currency are immediately released.
Likewise, the obligation to constitute collateral of national currency resources in the applicant's account for the purpose of purchasing foreign currency at Banking Financial Institutions ceases.
Banking Financial Institutions may only execute foreign exchange operations ordered by clients who possess an active Tax Identification Number (NIF).
Non-compliance with the provisions of this Instruction subjects Banking Financial Institutions to penalties, in accordance with the Framework Law of Financial Institutions and the Exchange Law.
Doubts and omissions resulting from the interpretation and application of this Instruction are resolved by the National Bank of Angola.
This Instruction enters into force on the date of its publication.

PUBLISH.
Luanda, December 1, 2017.
THE GOVERNOR
JOSÉ DE LIMA MASSANO

Lineage: No known changes

RegAlert holds no document that amends or replaces this one. This is not a check that it is in force: confirm with the regulator.

amendssupersedesissued underrefers todashed card: not in RegAlert (or proposed)arrows run from the older text to the one that changes it

The links and the sentences they come from (7)

Supersedes

12/2015 Instruction No. 12 dated 2015-06-24Not in RegAlert
“Instruction No. 12/2015, of 24 June, and points 4.1.4, 4.1.5, 4.1.6 and 4.1.7 of Instruction No. 10/2015, of 04 June, are revoked.”
Instruction No. 10 dated 2015-06-04Not in RegAlert
“Revocation of Instruction No. 12/15 and points 4.1.4, 4.1.5, 4.1.6, and 4.1.7 of Instruction No. 10/2015, of June 4”
Instruction No. 12 dated 2015-06-24Not in RegAlert
“Instruction No. 12/2015, of June 24, and points 4.1.4, 4.1.5, 4.1.6, and 4.1.7 of Instruction No. 10/2015, of June 4, are revoked.”
Revocation of Instruction No. 12/15Not in RegAlert · 2015
“Revocation of Instruction No. 12/15 and points 4.1.4, 4.1.5, 4.1.6, and 4.1.7 of Instruction No. 10/2015, of June 4”

Amends

10/2015 Instruction No. 10 dated 2015-06-04Not in RegAlert
“Instruction No. 12/2015, of 24 June, and points 4.1.4, 4.1.5, 4.1.6 and 4.1.7 of Instruction No. 10/2015, of 04 June, are revoked.”

Issued under

16/10 Law No. 16 dated 2010-07-15Not in RegAlert
“In the exercise of the competence conferred upon me by Article No. 51 of Law No. 16/10, of 15 July, the Law of the Banco Nacional de Angola.”
Law No. 16 dated 2010-07-15Not in RegAlert
“In the exercise of the competence conferred upon me by Article No. 51 of Law No. 16/10, of July 15, the Law of the National Bank of Angola.”

Lineage: No known changes

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