Africa-Press – Angola. The National Bank of Angola (BNA) has defined US$250,000 as the limit value for annual transfers for unilateral foreign exchange operations, while for commercial operations, the financial capacity of the sender is the basic criterion.
Unilateral exchange operations are those carried out without any consideration, in the sender’s account abroad, while commercial ones, carried out with the purpose of a consideration or benefit, are limited to financial capacity.
According to the deputy director of the Department for Regulation and Organization of the Financial System of the BNA, Alves Ferreira, regarding the aforementioned Notice No. 3, published in Diário da República on the 9th of this month, the 250 thousand dollars are the values considered sufficient for an individual, during one year, to transfer to his/her account abroad.
“For example, someone who travels abroad 10 times will take US$25,000 a month, it is reasonable”, he detailed.
As for operations of a commercial nature, those that are carried out with a counterpart, it suffices to assess the legitimate financial capacity.
“I acquire a service or a good abroad. I will buy or acquire the service at the price I can, as long as I prove the financial capacity to do so ”, she clarified.
He explained that the advantage is that anyone who has their funds and can legitimately prove their origin with documents, will be able to transfer money abroad, to the extent of their financial capacity.
“There will be no restriction on this citizen, who has values in the bank and wants to carry out commercial operations, because financial capacity is the money he has. If he has a lot of money, he will be able to use this much that he has”, he asserted.
He made it known that the criteria for defining financial capacity do not allow him to obtain funds from third parties, as it is essential to assess the legitimacy of the money that someone earns.
“ The country has to be compland and the customers too. A compland country is one that establishes strict rules for combating money laundering and terrorist financing. This is a duty of the BNA and, if on the one hand, there is liberalization, so that bank customers can, in a more comfortable way, carry out operations, on the other hand, there is greater rigor in relation to money laundering”, he underlined.
On the other hand, Alves Ferreira also pointed out, as an advantage of Notice No. 3, the fact that foreign exchange operations are allowed by natural persons without the need for authorization from an administrative entity, in this case the Central Bank.
He underlined that, due to this fact, Angola gains a positive image in the international context, from a financial point of view.
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