National Bank of Angola to continue currency transfer to commercial banks

luanda african reviewThe governor of the Central Bank National Bank of Angola made an address in Luanda. (Photo: Anton_Ivanov)At a meeting held in Luanda, Angola the governor of the Central Bank National Bank of Angola said he guarantees currency to commercial banks

Valter Filipe made the remarks while addressing the first meeting of the BNA Advisory Council, noting that the priorities with regard to the transfer of foreign currency were centred on the payment of imports that the country needs and said there was stability at national level in terms of food, drugs and raw materials.

“We believe that the major monetary aggregates and tax have been well controlled and this gives a certain stability to the market, which points to better control, both in product prices and inflation itself,” said the governor, according to state newspaper Jornal de Angola.

The meeting of the Advisory Council was held to outline the Angolan Financial System Adequacy Plan, prepare the monetary and exchange rate policy plan, in addition to the supervision policy. The governor also said that the BNA’s challenges in 2017 are to strengthen effective banking supervision, as well as launch preventative measures to combat money laundering, with the technical support of the United States Treasury.

“We must create a credible environment and confidence in the sector, in order to re-establish correspondent bank relations and return to carrying out transactions in dollars and acquire them to finance the economy,” stated Filipe.

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