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Mon, 02 Mar 2020 12:56 - Updated Tue, 03 Mar 2020 08:34

BNA secures economy, national currency

Cabinda - The Angolan Central Bank (BNA) is the institution with the mission to make prevail the national economy and currency with good quality for the markets, reaffirmed in the northern Cabinda Province, the BNA's Deputy Governor, Manuel Tiago Dias.

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Deputy Governor of the Angolan Central Bank (BNA)a, Manuel Tiago Dias

Photo: Kindala Manuel

From 27 to 28 of February, the BNA held in Cabinda the 5th National Treasury Meeting, where BNA's experts and banking technicians from Portugal, Mozambique and São Tomé and Principe concluded that the Angolan Central Bank (BNA) is betting more and more on the sector’s expansion.

In the statement that came out from the meeting, the participants recognized that the BNA, with the opening of regional offices in the provinces, allows an acceptable expansion of  commercial banks, which in turn secure the circulation of banknotes (AKZ – Angolan Kwanza).

To the BNA's Deputy Governor, Manuel Tiago Dias, the meeting served to share several experiences from both the Central Banks and the different companies, for many of them have already become BNA and other commercial banks' business partners, as they have been contributing greatly for the performance of one of the main functions related to the management of the circulating currency.

He also referred that the figures aren’t only in Angola, but also in developed countries, whereby the physical currency is the main payment instrument in the economy and for reasons known to all, such aspects relating to financial literacy and also the levels of banking that are not yet the best, all of which means that economic agents resort to paying cash in the materialization of their transactions.

He pointed out as a challenge in the near future, the introduction of the new Kwanza notes, and whose advantage was discussed a lot during the meeting.

''This challenge takes us to a better communication with the public and will require from the various  players adjustments in the equipment (…)", he said.

Themes such as the '' impact of the initiative to promote the use and circulation of coins and banknotes ", "recommendations for polymer banknotes "," regulation and monitoring of treasury processes "," ethics in treasury"," Counterfeit indicators 2012 series and security features of the 2020 series” and the “counterfeiting / falsification of the circulating medium” dominated the discussions at the 5th National BNA Meeting on Treasury that the city of Cabinda hosted from 27 to 28 of this month.

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