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National Bank of Angola
Foreign Exchange Transactions - Legal Persons
BNA Order 2/20 of 9 January 2020*
Summary: BNA Order 2/20 which entered into force on the official date of publication, 9 January 2020, establishes rules and procedures for the processing of foreign exchange transactions by (i) legal persons and (ii) respective Banking Institutions, which were oringinally introduced by BNA Order 13/13, of 6 August 2013.
BNA Order 13/13 has been revoked.
We highlight the following main changes introduced by BNA Order 2/20:
1) Foreign exchange transactions no longer require prior licensing with the National Bank of Angola.
2) Bank transfers for the payment of services above USD 25,000.00 require the respective contract be provided at the respective Banking Institution responsible for processing the bank transfer.
3) Each Banking Institution duly licensed to operate in Angola is now responsible for evaluating the documentation provided to it to support each requested transfer.
BNA Order 13/13 and all other provisions contrary to BNA Order 2/20, are revoked.
* Despite the official date of publication, the Official Gazette of 9 January 2020 and respective diplomas, including BNA Order 2/20, was only made available today
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