Angolan bank authorises customers to use accounts in foreign currency

15 July 2019

The National Bank of Angola (BNA) has authorised Angolan banking customers to carry out transactions with their accounts in foreign currency, although there are still some restrictions, according to an official statement released on Friday in Luanda.

The BNA said the decision was intended to respond to citizens’ difficulties in handling their foreign currency-denominated accounts, domiciled in banks operating in the country, which were suspended in 2017 due to the economic crisis in Angola.

For current invisible and capital transactions, banks must be able to carry out customers’ requested transactions when the BNA’s license number for the transaction is assigned.

In goods operations, the operation must be carried out immediately after validation of the goods import documents, which shall occur no more than five working days from the date of delivery of the complete set of documents.

The Angolan central bank also instructs the banks to carry out operations, complying with all procedures required under current regulations, within the normal time frames for banking operations. (Macauhub)