PARIS, February 20, 2017 /PRNewswire/ --
Reform of the regulatory framework
and banking supervision in Angola
A delegation of the National Bank of Angola (BNA) headed by Governor Valter Duarte da Silva was in Paris for meetings with the Bank of
France and other French banking
system institutions, to strength institutional relations and raise
awareness in the French financial sector for the reform of the
regulatory and banking supervision framework in Angola.
(Photo:
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Through the BNA, Angola has
developed a very strong effort to quickly adapt its financial
system to international prudential standards and good practices
with the objective of restoring international credibility and
confidence in the Angolan financial system, aiming its recognition
abroad by their counterparts.
BNA has been imposing on Angolan commercial banks the adoption
of best practices in financial regulation and supervision, and as a
result of this effort seven of the largest banks operating in
Angola have already adopted
International Accounting and Reporting Financial Statements
Standards.
"Our expectation is that the European Central Bank and the
United States Federal Reserve will recognize the National Bank of
Angola as an entity of equivalence
in banking regulation and supervision in the first half of this
year," said Valter Duarte Silva.
The Angolan visit to the French capital is part of a program of
contacts and visits of the BNA to the world's financial
centers.
The BNA has developed several contacts with international
institutions and counterparts such as the World Bank and the
International Monetary Fund, the Federal Reserve of the United States, the Bank of England, the Bank of France, the Bank of Italy, the Bank of Portugal And the Reserve
Bank of South Africa in order to
adapt to good banking supervision practices in Europe and the
United States, and to show what has already been done in
Angola, as well as to train its
technicians and senior management.
"Our work has been developed in partnership with the
International Monetary Fund and the World Bank and in close
collaboration with the central banks of Portugal, South
Africa, Italy, the
United Kingdom, France and the
United States of America, with which we have already
established protocols for training human resources and for
technical assistance," said the governor of the BNA.
The Angolan delegation has held meetings at the highest level
with the Governor of the Bank of France, Mr. François Villeroy Galhau, and with
representatives of French banks such as BNP Paribas, Crédit
Agricole and Natixis, as well as institutions such as the French
Banking Federation, MEDEF International, The International
Financial Action Task Force (FATF) and the Paris Club.