Unit of Angolan central bank to detect money laundering starts operating in 2011

30 December 2010

Luanda, Angola, 30 Dec – The financial information unit of the National Bank of Angola (BNA) is due to start operating in the first quarter of 2011, the governor of the central bank, José Massano said in Luanda Tuesday.

The information unit is charged with analysing, preventing and detecting attempts to use the Angolan financial system for money laundering purposes or funding terrorism.

The governor also noted that he expected the robustness of the financial system to increase with the application of the programme for consolidation of the Angolan banking sector, which will include boosting the asset structure of the bank and adopting criteria in line with international best practices for the financial industry.

In relation to the performance of the Angolan economy in 2010, the BNA’s governor noted the rating with a positive outlook given to Angola’s debt by three international financial credit rating agencies, allowing the country to raise its status on the sovereign debt market.

In 2011, according to the BNA, Angola’s gross domestic product (GDP) is expected to post growth of around 4 percent, notably the non-oil sector that is expected see growth of 5.7 percent. (macauhub)