Luanda - The National Reserve Bank of Angola (BNA) has set the amount of 5,000 US dollars or the equivalent in another currency, as the monthly limit of monetary transfers to overseas, thus eliminating the prior limit of USD 2,000.
According to the new instruction of the Central Bank, June 24, money received from outside the country is not subject to regulatory limits.
The BNA justifies the need to update the foreign currency sale limits applicable to Money Transfer companies and exchange bureaus.
According to the said Notice, the sale of foreign currency is limited to five thousand dollars (USD 5,000.00) per month, or its equivalent in another foreign currency, and may be delivered to the customer in bank notes or deposited in a prepaid card.
Non-compliance with the provisions laid down in this Notice constitutes a punishable contravention under the terms of Law number 14/21 of 19 May, Law on the General Regime of Financial Institutions.
The National Bank of Angola reserves the right to prohibit payers who exceed the limits established in this Instruction from carrying out foreign exchange operations in the national financial system for periods to be determined.
