Angola | 2018.12.05
NEW RULES FOR COLLATERAL DEPOSITS ASSOCIATED TO LETTERS OF CREDIT
On 20 November 2018, entered into force the Instruction No. 14/2018, of 19 November 2018, which establishes rules regarding the amount and remuneration of collateral deposits associated to letters of credit. This statute provi
Angola | 2018.12.05
NEW RULES FOR EXCHANGE OFFICES AND PAYMENT SERVICE PROVIDERS
Instruction No. 15/2018, issued on 19 November 2018, addresses the sale of foreign currency to currency exchange offices and payment service providers. Said Instruction establishes rules on the following matters:
Angola | 2018.11.23
Angola carries on in the path to build up the steps so that the country will eventually have a legal framework in place for the oversight and control of competition
Portugal | 2018.10.09 | Portuguese Version Only
PORTAL NACIONAL DE FORNECEDORES DO ESTADO
É criado o Portal Nacional de Fornecedores do Estado, através do Decreto-Lei 72/2018, de 12 de setembro, para funcionar a partir de 1 de janeiro de 2019. Trata-se de um sistema online, que reúne informação sobre fornecedores do Estado nele inscritos
Angola | 2018.10.09
PREVENTING MONEY LAUNDERING AND FINANCING OF TERRORISM IN INTERNATIONAL TRADE OPERATIONS
Through Instruction No. 13/18, of 19 September 2018, the National Bank of Angola (“BNA”) established the procedures to be followed by Banking and Financial Institutions in order to identify the risk profile of their customers regarding import and export transactions of goods, as well as the measures to be taken to prevent money laundering and the financing of terrorism for high-risk clients.
Cape Verde | 2018.09.28
EXTENSION AND MODERNIZATION OF CAPE VERDE PORTS
The Government of the Republic of Cape Verde, through the General Directorate of Infrastructures, has launched a public tender for the extension and modernization of the national ports. The project will be funded by the African Development Bank.
Angola | 2018.09.12
NEW LIMITS OF OVERALL FOREIGN EXCHANGE POSITION OF COMMERCIAL BANKS
On 15 August, the Central Bank of Angola (“BNA”) established new limits of the global foreign exchange position of commercial banks and the basis for its calculation, by means of Notice No. 6/18.
Angola | 2018.09.06
DEPOSIT GUARANTEE FUND CREATED
Through Presidential Decree No. 195/18, of 22 August 2018, the Deposit Guarantee Fund (“DGF”) was created and its Regulations were approved. The DGF aims to secure the reimbursement of deposits held with banking institutions domiciled in Angola up to the amount of AOA 12,500,000.00. These institutions are required to contribute to the DGF, pursuant to the terms to be set forth by a Notice of the National Bank of Angola and following an opinion from the DGF.
Angola | 2018.08.31
NEW REPORTING REQUIREMENTS FOR DETERMINATION OF THE FOREIGN EXCHANGE POSITION FOR BANKS
The Central Bank of Angola ("BNA") issued Directive No. 05/DSB/DRO/DMA/2018, of 20 August 2018, on the information to be submitted to determine the foreign exchange position of Commercial Banks.
Angola | 2018.07.26
The reserve requirements of banking financial institutions operating in Angola were regulated by means of BNA Instruction No. 10/2018, of 19 July 2018. This Instruction repealed Instruction No. 05/2018, of 25 May 2018, as well as all contradictory regulations. For the purposes of establishing the relevant reserve base, Instruction No. 5/18 will enter into force on 27 July 2018, while its requirements will be effectively enforced from 30 July 2018 onwards.