Angola | 2019.07.25
Bank Accounts in Foreign Currency

By means of a Notice, dated 12 July 2019, the Angolan Central Bank (“BNA”) determined that Banks should ensure that individuals are able to operate their bank accounts upon the issuance of the BNA license number for the relevant capital operation/ invisibles items of trade operation, as applicable. In the case of importation of goods, such operation of bank accounts should occur immediately after the validation of the relevant importation documents, which must not exceed 5 (five) business days as from the date of the complete submission of said documents.
 
The same Notice established a maximum period of 2 (two) business days for the completion of: (i) bank transfers; (ii) the loading of pre-paid cards or the setting of credit card limits; and (iii) withdrawals. In the event of a shortage of the requested currency, the bank must allow withdrawal in an alternative, freely-convertible foreign currency, a bank transfer, or the loading of an internationally accepted pre-paid card.
 
The Notice further provides BNA’s contact details to be used by clients who are unable to operate their accounts in the above-described terms.

Should you wish to receive additional information on this alert, please contact:

mirandaalliance-alert@mirandaalliance.com

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