National Bank of Angola wants to improve scheduling of currency sales

25 July 2016

The National Bank of Angola (BNA) is working with commercial banks operating in the country to draw up a better schedule of sales of foreign currency, reported the Angolan central bank in a statement Friday.

Improved scheduling of the sale of foreign currency is intended, according to the BNA, “to replace in a gradual, planned, organised and prudent way the external resources for all sectors of the economy.”

The BNA reported that in recent weeks it had had meetings for “consultation and consensus” with the Association of Commercial Banks of Angola (Abanc) and the chairmen or representatives of the boards of Banco Keve, Banco BIC, Banco Angolano de Investimentos, Banco Fomento Angola, Banco Económico, Standard Bank, Banco Millennium Atlântico, Banco Sol, Banco Pungo Andongo, Banco Prestígio and Banco Crédito do Sul.

At the meetings, which were aimed at “sharing information about the challenges of the Angolan financial system,” the BNA reaffirmed its commitment “to a rigorous, prudent and sustainable management of foreign exchange resources, with the ultimate aim of providing the foreign currency necessary to the national economy.”

In the same statement, the National Bank of Angola gave assurances that foreign sales would continue to be regular and called on the various economic agents, especially companies, to avoid the use of the informal market and prevent the indexing of the prices of products to the parallel foreign exchange market. (macauhub/AO)