Instruction No. 06/2022, of June 24

INSTRUCTION NO. 06/2022 of June 24
SUBJECT: FOREIGN EXCHANGE OPERATIONS

• Limits on the Sale of Foreign Currency Applicable to Payment Service Providers and Money Exchange Houses

Considering the need to update the limits on the Sale of Foreign Currency Applicable to Payment Service Providers and Money Exchange Houses, under the provisions of Notice No. 09/18, of November 16, and Notice No. 9/19, of November 06, on Operational Rules for Money Exchange Houses and Operational Rules for Value Transfer Services, respectively; Under the combined provisions of paragraph 2 of Article 28 of Law No. 05/97, of June 27, Foreign Exchange Law, and paragraph c) of paragraph 1 of Article 18 and paragraph g) of paragraph 1 of Article 98, both of Law No. 24/21, of October 18, Law of the National Bank of Angola.

I DETERMINE:

1. Limit applicable to value transfer operations in foreign currency
   1.1 Value transfers from Angola abroad are limited to USD 5,000.00 (five thousand United States Dollars) or the equivalent in another foreign currency, per month, per remitter.
   1.2 Value transfers received from abroad into the country are not subject to regulatory limits.

CONTINUATION OF INSTRUCTION NO. 06/2022 Page 2 of 2
2. Limits applicable to foreign currency sale operations in cash or for loading prepaid cards
2.1 The sale of foreign currency is limited to USD 5,000.00 (five thousand United States Dollars) or its equivalent in another foreign currency, per resident traveler over 18 years of age, per month, and may be delivered to the customer in cash or loaded onto a prepaid card.

3. Penalties
   3.1 Non-compliance with the provisions established in this Instruction constitutes an administrative offense punishable under Law No. 14/21, of May 19, General Regime Law for Financial Institutions.
   3.2 The National Bank of Angola reserves the right to prohibit remitters who exceed the limits established in this Instruction from conducting foreign exchange operations within the national financial system for periods to be determined.

4. Doubts and Omissions
   Doubts and omissions resulting from the interpretation and application of this Instruction are resolved by the National Bank of Angola.

5. Repealing Norm
   Instruction No. 16/2018, of November 21, is hereby repealed.

6. Entry into Force
   This Instruction enters into force on the date of its publication.
   PUBLISH.
   Luanda, June 24, 2022.

THE GOVERNOR
JOSÉ DE LIMA MASSANO