New Regulations to Issue Checks and Subsystems of Compensation

2 de Janeiro de
2014
NEW REGULATIONS TO ISSUE CHECKS
AND SUBSYSTEMS OF COMPENSATION
Instruction No. 09/13, from 19 Nov., establishes new rules regarding the issuance of checks and funds transfers made
through the Subsystem of Real Time Payments.
I. It is stipulated as the maximum value for the issuance of a standard check, the amount of Kz 9,999,999.99 (Nine
million nine hundred ninety nine thousand, nine hundred ninety-nine Kwanza and nine cents).
Banking financial institutions are obliged to refuse to pay any check above this threshold value.
The financial banking institution that does not comply with this obligation will be subject to the application of various
penalties under the Financial Institutions Act.
II.
II. It is set at Kz 5,000,000.00 (Five Million Kwanza) the value from which it is mandatory to transfer funds through the
Subsystem of Real Time Payments(Subsistema de Pagamentos em Tempo Real - SPTR) .
Compensation Subsystems are required to reject any transaction equal to or greater than the above mentioned
amounts.
Finally, the Instruction empowers the National Bank of Angola, through the Department of Banking Operations and
Payment Systems, for any issue arising from the interpretation and implementation of the Instruction.
Instruction No. 09/13 was published on 20 November and will come into force on February 20, 2014.
Edifício Presidente, Largo 17 de Setembro, nº 3, 2º (253)
Luanda - Angola
Telefone: +244 926 61 25 25
[email protected]
www.vca-angola.com
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1200-410 Lisboa – Portugal
Tel: +351 21 358 36 20 . Fax: +351 21 315 94 34
[email protected]
www.abbc.pt
Esta newsletter contém informação de carácter genérico e não se destina a servir como consulta jurídica. Foi elaborada por advogados angolanos da
VCA com a colaboração de advogados portugueses da ABBC, no âmbito da respectiva associação. Tem por destinatários clientes e contactos de
ambos os escritórios.