RegAlertRule · BNA · 12 Nov 1994
Instruction No. 12/94: Chart of Accounts for Currency Exchange Houses
The National Bank of Angola issued Instruction No. 12/94 to enforce strict accounting discipline by prohibiting currency exchange houses from altering the approved Chart of Accounts without prior central bank authorization. The directive permits these institutions to establish 4th and 5th degree accounts only with prior approval from the Banking Supervision Directorate and allows unrestricted breakdown of 5th degree accounts as needed for their operations. This regulation officially takes effect in January 1995, governing the structural breakdown of financial records under the previous framework established by Dispatch No. 41/91.
INSTRUCTION NO. 12/94
SUBJECT: FINANCIAL SYSTEM
-Chart of Accounts for Currency Exchange Houses The Chart of Accounts for Currency Exchange Houses approved by Dispatch No. 41/91 of November 10 is structured into classes and accounts, with these accounts having breakdowns from the 1st to the 5th degree. Considering the need to ensure the indispensable discipline of accounting records and the use of the aforementioned Chart of Accounts. Under Article 43 of the Organic Law of the National Bank of Angola. I HEREBY DETERMINE:
1 - Currency Exchange Houses are prohibited from making any changes to the aforementioned Chart of Accounts without prior authorization from the National Bank of Angola. 2 - Whenever necessary for their activity, Currency Exchange Houses may:
a) - Create accounts at the 4th and 5th degree levels, provided they obtain prior authorization from the Banking Supervision Directorate. b) - Freely proceed with the breakdown of 5th degree accounts. 3 - This instruction enters into force starting from the month of January 1995. Luanda, November 13, 1994 THE GOVERNOR GENEROSO HERMENEGILDO GASPAR DE ALMEIDA
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