|National Bank of Angola (BNA)
New Rules to Operate Bank Accounts (Local and Foreign Currency)
Order 2/17, of 3 February 2017Summary
: This new act of legislation is BNA Order 2/17, of 3 February 2017 (hereinafter “BNA Order 2/17”), issued by Angolan Central Bank, which sets forth the new rules applicable to the opening and operation of deposit bank accounts domiciled with Angolan Banking Institutions, held by both Foreign Exchange residents and non-residents.
This BNA Order 2/17 updates the rules applicable to the opening and operation of deposit bank accounts domiciled with Angolan Banking Institutions, with a more relevant impact on the procedures regarding the operation of existing bank accounts held by Angolan resident entities, both bank accounts in local currency and international currency.
This BNA Order 2/17 has entered into force on the date of publication by the Official Gazette, i.e. 3 February 2017, and thus, it is expected that commercial banks will start to enforce such rules immediately.
Please let us know in case you require more detailed information in respect of BNA Order 2/17 and we are also available to provide you an English version of the relevant BNA Order.