21 June 2018

Angola: Import Settlement With Letters of Credit

Luanda — Import of goods into Angola will mainly be done with letters of credit, as the best financial instrument used in international trade, announced Wednesday in Luanda, the governor of the National Bank of Angola (BNA), José de Lima Massano.

According to the governor, unlike transfer orders, letters of credit guarantee either the entry of merchandise into the country or confirmation of the availability of resources to pay exporters.

José de Lima Massano made the statement to the press, on the sidelines of the presentation to the national and foreign businessmen of the New Instruction of Rules of Procedures of Foreign Exchange Operations for Import and Exports of Goods.

According to the governor, the new instrument can still be improved, taking into account the contributions made by national entrepreneurs.

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