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:


a)    access to the purchase of currency by currency exchange offices and remittance companies;
b)    requests for purchase of foreign currency from commercial banks by currency exchange offices and remittance companies;
c)    procedures for the sale of currency by the National Bank of Angola to commercial banks;
d)    conditions for the sale of currency by commercial banks to currency exchange offices and remittance companies; and
e)    conflicts of interest between commercial banks and currency exchange offices and remittance companies.


This Instruction entered into force on 20 November 2018 and revoked Instruction No. 17/2015, of 20 August 2015, and Directive No. 2/2011, of 31 March 2011, which established rules on the same subject.


For further information about the content of this Legal Alert, please contact::
angola@mirandaalliance.com

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