Angolan banks redouble investments in operational risk control

This investment is expensive but we have to do it, said the representative of the Angolan Banks Association (ABANC), Filipe Lelis, in Paris, France, where he is part of the delegation headed by the governor of the Angolan Central Bank, Valter Filipe.

To him, it is not enough the technical component, the interest of banks and financial institutions, the population needs to realize that in their daily life it is important not to allow their negative actions to involve banks or expose them to financial systems of risks.

Our mission, said the ABANC representative, is to clarify what the financial system has done to mitigate the risk perception of the Angolan financial system.

He considers that the associated banks have done the “home work “. He said that there is willingness from the partners in getting more information about this ongoing process in the country’s banking system.

According to the banker, the feeling is that the mission is being fulfilled successfully. “We have been able to inform that the Angolan financial system is more robust and less permissive of undue transactions”.

“We left France convinced that we are doing a good job” said the source, when speaking at the end of a meeting that the Angolan delegation had with partners in the French capital.

The challenge of the entourage led by the governor of the Central Bank, Valter Filipe, is to restore the confidence of the French partners in the national banking system, to allow Angola to be part of the list of equivalence of banking supervision with the European Central Bank.

By being part of the equivalence list, Angolan banks will no longer depend exclusively on BNA for access to foreign currency, as it currently does.

Source: Angola Press News Agency