Africa Angola Banking Economy Finance Government Legislation

Bank of Angola reinstates instructions on payments abroad

Payments abroad, under Contracts for the Provision of Foreign Technical Assistance or Management Services, covered by Presidential Decree no. 98/20, of 9 April, does not require prior licensing, the Angolan National Bank (BNA) said once again.

The Angolan central bank noted in a statement issued on its website that these types of payments, which previously involved its own banking branches, should be dealt with by commercial banks, according to the procedures laid down in Notice no. 2/2020, of 17 January, which establishes the rules and procedures for Conducting Foreign Exchange Current Invisibles Operations by Companies.

Thus, the document said, these are operations are exempt from any prior licensing procedure, either by the Ministry of Economy and Planning, or the National Bank of Angola, payment of services abroad, under the terms of contracts covered by the above mentioned legislation.

Source: Macauhub

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