Legislation and Regulation on Foreign Exchange - Banking Institutions
1. Foreign Exchange Law Law no. 5/97, of June 27th
Foreign Exchange Law 1.1 Opening and maintaining bank accounts Notice no. 03/2009, of May 18th Terms and conditions under which Foreign Residents and Non-residents may hold account in foreign currency and national currency. Notice no. 02/2017,of February 3rd Opening and movement of deposit accounts held by foreign exchange residents. 1.2 Import and export of foreign currency Notice no. 02/2015, of January 29th Regulates the operations of import and export of foreign currency, as well as its reporting to the BNA. |
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2. Code of Conduct Notice no. 14/2012, of April 3rd
Establishes the Code of Conduct for the Monetary, Interbank and Foreign Exchange Markets, and approves its internal regulations. Instruction no. 02/2018, of January 19th Procedures observe in the execution of foreign exchange transactions. |
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3. Function of Foreign Exchange Control Instruction no. 07/2018, of June 21st
Creation of an Independent Function of Foreign Exchange Control in Banking Financial Institutions. |
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4. Operations 4.1 Goods – Import and Export
Notice no. 04/2014, of August 7th Simplified procedure for payment of import of goods Annex I - Statement by the Intermediary Banking Institution Annex II - Commitment Letter Annex III - Procedures to be performed by the independent auditor Presidential Decree no. 75/17 Regulation of the licensing of goods operations. Instruction no. 08 / 2018, of June 21st Temporary Suspension of Licensing of Foreign Exchange Transactions for Import of Goods. Notice no. 5/2018, of June 17th Rules and Procedures Applicable to Foreign Exchange Operations of Import and Export of Goods. Instruction no. 09/2018, of July 19th Limits of Foreign Exchange Goods Operations. 4.2. Current Invisibles Operations Decree no. 21/98, of July 24th Operations of current invisibles. Presidential Decree no. 273/11, of August 28th Approves the contracting of Foreign Technical Assistance Services or Management. Presidential Decree no. 123/13, of October 27th Changing the limits in Dec. Pres. 273/11. Notice no. 13/2013, of July 31st Procedures for performing current invisible exchange transactions Annex - Set of documents to be presented to the Banking Institution. Notice no. 13/2014, of December 18th Foreign transfers of profits or dividends from external private investors. Instruction no. 06/2018, of June 19th Foreign currency limits for Family Assistance. 4.2.1 Entry and Exit of Currency Notice no. 01/2016, of January 29th Terms and conditions for the entry and exit of national and foreign currency held by foreign exchange residents and non-residents. 4.3. Capital Operations Decree no. 23/98, of July 24th Capital operations. Instrutivo 1/03, of February 7th Capital operations. Notice no. 14/2014, of December 18th Importation of capital associated with foreign private investment. Notice no. 01/2017, of February 3rd Performing investments in the securities market by non-resident foreign exchange entities. |
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5. Specific Sectors 5.1 Oil Sector
Law no. 2/12, of January 13th Foreign Exchange Regime Applicable to the Oil Sector. Notice no. 20/12, of April 25th Foreign Exchange Regime Applicable to the Oil Sector - Procedures, mechanisms and timetable for gradual implementation. Notice no. 23/2012, of April 30th Determines the type, form and frequency of presentation of the information required for the recording and compilation of the balance of payments. Notice no. 07/2014, of October 8th Sale of foreign currency (- mandatory sale of ME by the oil sector operators to the BNA to pay for local services; - Defines the exchange rate applicable to tripartite contracts). Directive no. 01/DCC-DOB/2014, of November 17th Procedures for executing the foreign currency sale transactions specified in Notice no. 7/14 of October 8. 5.2 Diamond Sector Notice no. 2/03, February 7th Foreign exchange regime of companies or associations producing and exporting diamonds and other mineral resources. Presidential Decree no. 175/18, July 27 Trade policy for the diamond sector. 5.3 Monetary Conversion Agreement between the National Bank of Angola and the Bank of Namibia Notice no. 12/2015, of December 29th Monetary Conversion Agreement between the National Bank of Angola and the Bank of Namibia - Entry and exit of national and foreign currency at the land border of Santa Clara (Angola) - Operating rules to be observed by financial institutions. |
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6. Foreign Exchange Market 6.1 Exchange Rate
Instruction no. 03/2018, of January 19th Exchange rate regime. Notice no. 6/2018, of August 15th (no. 3 of article 4th) Limitv for the exchange rate position - Interbank money market rate and BNA (partially revokes No. 4 of Instruction No. 03/2018). 6.2 Foreign Currency Auctions Instruction no. 01/2018, of January 19th Foreign Currency Purchase and Sale Auctions - Participation Procedures. |
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7. Accounting Record Directive no. 01/DSI/2013
Accounting record of foreign exchange transactions. |
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8. Exchange Position Notice no. 06/2018, of August 15
Limit for foreign exchange position. Directive no. 05/DSB/DRO/DMA/2018, of August 22nd Limit for foreign exchange position. |
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9. Information Reporting to the BNA Instruction no. 06/2011, of August 17th
Information on transactions of foreign currency purchase to BNA (information to be inserted in MT202 of foreign exchange purchase from BNA). Instruction no. 07/2011 of August 18th Transactions in foreign currency (Information on transactions in the interbank market in foreign currency). Directive no. 03/DMA/11 Secondary market - Buying and selling notes, buying foreign currency from customers. Notice no. 01/2015, of January 29th Import and Export of Foreign Currency and Travelers Checks. Instruction no. 20/2015, of December 9th Reporting and monitoring of foreign exchange transactions (Swift FINinform, copy of messages MT103 and MT202 (payments and receipts) received by BNA. Directive no. 01/DCC/2017 Sending information about foreign exchange needs and operations submitted and executed. Directive no. 01/ DCC/2018 Sending information related to foreign exchange Needs Maps (late payments and current operations). Communication no.º 02/DCC/2018 Sending of Separate foreign exchange needs map for all payments to tradings and offshores. Point 3.2.3 of Instruction no. 01/2018, of January 19th Reporting of information to the BNA on the degree of execution of the sale of foreign currency acquired in the auctions or through direct sales.1 Instruction no. 02/2014, of March 19th Registration in SINOC of Current Invisible Operations Annex - Aspects to be observed for recording operations referred to in point 1. no. 2 of article 7th of Notice no. 20/12 Registration in the SINOC of the operations of the foreign exchange regime of the oil sector. line c) of no. 2 of article 12th of Notice no. 05/2018, September 12th Sending the map of operations of goods import without a definitive DU for more than 180 days. line d) of no. 3 of article 17th of Notice no. 05/2018, of September 12th Registration in the SINOC of the entry of export earnings [Note: the Notice does not apply to the oil and diamond sectors]. no. 1 of article 6th of Notice no. 02/2017, of February 3rd Registration of foreign exchange transactions executed by foreign exchange non - residents under Notice no. 2/2017. Directive no. 1/DSI/14, of June 24th Provision of the service of remittance and receipt of securities - Summary map of operations Directive no. 01/DCC_DOB/2014 Foreign currency purchase and sale, executed under tripartite contracts. Directive no. 4/DSI/10, of December 28th Map of sale of foreign currency to Foreign Exchange Bureau. Article 3rd of Notice no. 02/2015, of January 29 Report to the BNA on foreign currency import and export operations. |
1 Information reported daily in the Map of Executed Transactions (Directive no. 01/DCC/2017)
(Last Update: October 10th of 2018)