The Angolan Central Bank (Banco Nacional de Angola) recently issued Order No. 3/19, of 28 March 2019, which sets thresholds for any commissions and expenses that may be charged by Banking Financial Institutions in respect of transactions made in foreign currency, as well as the maximum foreign exchange margins allowed for certain operations. Among other limits, the Order provides a 3% rate as the maximum allowed commission applicable to the withdrawal of cash in foreign currency and a 2.5% commission for the issuance of bank guarantees. Commissions due for international transactions made by credit card and pre-paid card, and services related to documentary credits, are also covered by this order.
 
The order also establishes that, apart from those expressly provided in foreign currency therein, all remaining commissions, costs and expenses should be set or calculated in Angolan Kwanza. Furthermore, payment of said commissions and expenses, including those set in foreign currency, should be made in national currency.   
 
BNA Order No. 3/19 entered into force on 28 March 2019. However, the order allows for a transitional period of 60 days for Commercial Banks to be able to adapt to the new regime.