Regulatory Alerts2023-01-23
Added · Updated
Instructive No. 01/2023: Standardised Reporting of Foreign Transactions
The National Bank of Angola issued Instructive No. 01/2023 to mandate standardized statistical reporting of cross-border transactions by supervised banking financial institutions. The directive requires these institutions to subscribe to the SWIFT FIN inform system and accurately populate designated message fields, such as Purpose Codes and National Identification Numbers, according to a newly established classification table. Non-compliance triggers penalties under existing financial laws, while the revocation of previous instructions and a 180-day implementation period ensure seamless integration into Angola's foreign exchange monitoring framework.
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