Banking sector gets ESAAMLG’s thumbs up

Angolan banking financial sector has received approval, in compliance with technical standards, from the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG), a Financial Action Task Force (FATF) institution.

The approval owed to the fact that Angola has defended, at the end of March, in Arusha, Tanzania, the Mutual Evaluation Report, at the technical meeting of the ESAAMLG “task force”.

The results of Angola’s mutual evaluation process, within the scope of the FATF, were shared by the Governor of the National Bank of Angola, Lima Massano, during a consultation meeting and regular consultations held with members of the Angolan Association of Banks (ABANC).

The meeting with ABANC, according to the BNA publication to which ANGOP had access, aimed to analyse various current economic and financial issues, including proposals for reviewing training programmes on the prevention of money laundering, the implementation of regulatory reforms of a prudential nature and the applicable modalities.

After this step, the results of the “task force” discussions will be submitted to knowledge and subsequent deliberation in the plenary of the Council of Ministers of this FATF regional organisation, to be held in the months of September and October of this year.

The ESAAMLG is the group of the countries in Southern and East Africa, created to monitor countries’ progress towards compliance and implementation of the FATF Recommendations in their jurisdictions, concerning the prevention and combating of money laundering and terrorist financing.

The group comprises 17 countries. They are Angola, Botswana, Ethiopia, South Africa, Namibia, Tanzania, Rwanda, Seychelles, Swaziland, Kenya, Zambia, Uganda, Mozambique, Malawi, Lesotho, Mauritius and Zimbabwe.

Source: Angola Press News Agency (APNA)