BNA guarantees regaining trust of correspondent banks

Luanda – The governor of the Angolan National Reserve Bank (BNA), Valter Filipe da Silva, last Monday in Luanda defended the reinforcement of the country’s financial system with a view to fighting money laundering and financing to terrorism, aimed to guarantee stability in the relation with international correspondent banks.

The Angolan Central Bank governor, who gave an interview to the public TPA television programme dubbed “Grande Entrevista” (Big Interview ), stressed that the various work trips he has made to several countries in Europe and America were used by the country’s delegation to clarify the correspondent banks about the situation in Angola and its current shortcomings, with a view to regaining the trust of foreign institutions.

According to the manager, the BNA has been implementing a reform on the country’s financial system, which started with the Central Bank itself, which has already reached the state-owned BPC bank and will include another public bank (BCI) and other commercial banks.

He stressed that one has to understand that America and Europe are conducting a war against terrorism and its sources of financing.

“The perception that correspondent banks had in regard to Angola was not satisfactory, because of the poor internal communication, so these trips enabled us to explain to entrepreneurs the real economic scenery of the country”, he said.

He went on to explain that one of the mechanisms used in the fight against terror is to block and shut down all sources that finance terrorism.

In view of this, he clarified, at international level there is a demand for central and commercial banks to have human resources that are capable of dealing with money laundering, by creating systems, norms and rules that can protect financial fluxes and that banking transactions take place in a legal manner.

According to the BNA chief, the Angolan banking sector is now better, following the issuing of 28 regulatory compliance decrees from April to June 2016, aimed to adjust the Angolan banking sector to the norms demanded internationally.

Mean while, Valter Filipe da Silva informed that in the ambit of the reform taking place on the country’s financial sector, Angolan cadres have been attending upgrading programmes in France, Italy, South Africa and other countries, with a view to improving the Angolan banking system.

Source: Angola Press News Agency