Angola has made considerable progress in adopting more stringent requirements for prevention of money laundering and terrorist financing, said the Governor of the National Bank of Angola (BNA).
José Pedro de Morais Júnior said in a statement Tuesday that besides producing regulations, the BNA had been issuing guidelines and standards reflected in the Financial Action Task Force recommendations, known by the acronym FATF/GAFI.
In the statement, the Angolan central bank stressed that has it had been developing a set of actions that include regulations, training, ongoing monitoring of the financial system and “where necessary, penalties for offending institutions.”
The BNA has an ongoing training programme called “ABC of Financial Education”, which deals among various other topics with “prevention of money laundering and terrorist financing” in order to raise awareness among financial services customers of the importance of the prevention measures for the soundness and stability of the financial system and customer protection.
“Our aim is to continue to introduce structural reforms in order to strengthen the Angolan financial system against the potential risks of money laundering and terrorist financing,” said the governor of the National Bank of Angola. (macauhub/AO)