The Angolan Central Bank (BNA) has recently issued Instruction No. 5/17, of 1 December of 2017, on the procedures for buying and selling foreign currency in Angola. This statute establishes that:

• It is no longer mandatory for banks to hold deposits of national currency (Kwanzas) in the applicant’s bank account for the purpose of buying foreign currency.
  
  
• The funds/resources in national currency currently held in the BNA for the purpose of acquiring foreign currency are to be immediately demobilized.
  
  
• Banking Financial Institutions may only execute foreign exchange operations requested by clients who hold a valid and active Tax Identification Number (NIF).

This Instruction revoked Instruction No. 12/2015, of 24 June of 2015, and part of Instruction No. 10/2015, of 4 June of 2015.

For more information, please contact:
[email protected]