Africa Angola Banking Economy Finance Forex Press Release

Forex: Angolans may buy as much as USD120k/year

Angolan citizens may buy foreign currency worth as much as USD 120,000 a year for travel expenses, unilateral transfers of a private nature, including family support, according to a press release from the National Bank of Angola (BNA).

The BNA’s note, reached Angop Friday, adds that with the entry into force of the notice no. 12/2019, on 2 January 2020, those interested in joining the process will no longer need to submit a support document.

Just the assessment of the applicant’s financial capacity is sufficient, under the prevention, anti-money laundering and terrorist financing crimes rules, said the source.

Following this new measure, the statement adds, the BNA once again recommends all citizens to carry out foreign exchange transactions only at banks or exchange bureau facilities for their own protection.

According to the BNA, the warning also results from the recurring identification of counterfeit banknotes of national (Kwanza) and foreign currency in circulation in the country, which constitutes a crime in Angola and in most countries.

BNA also recommends that in case of constraints in performing the foreign exchange operations in a financial institution authorised the client may file complaints with the Financial Conduct Department of the Central Bank, through e-mail:

Source: Angop

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