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Tue, 26 Jun 2012 18:59 - Updated Wed, 27 Jun 2012 10:22

New bank notes out early in 2013

Luanda

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A plenary session of the National Assembly

Luanda – New Angolan Kwanza (AKZ) bank notes and metallic coins of the 2012 series will come into force early in 2013, following the approval on Tuesday in Luanda by the National Assembly (Parliament) of the law that authorises the Reserve Bank to issue them.


 
Approved with 155 votes in favour, 15 against and four abstentions, the law invested the BNA with the power to issue new Kwanza bills and coins.

Defending the issuing of the new bills and coins, BNA governor, José de Lima Massano, told the Parliament that the series of notes currently in force bear no improved measures of security since their release in 1999.

He said recommendations on the issue suggest permanent improvements to their security elements and the introduction of new family of notes and coins after every seven years.


 
During the session, the official announced that the bill will have the denominations of up to Akz 10,000, but those of 5,000 and 10,000 will only be released as necessary.


 
The BNA governor explained that there will be no replacement of bank notes as, he added, the new ones will be released gradually and will remain in circulation simultaneously with the currently valid ones.


 
On the other hand, the Tuesday’s plenary session unanimously passed the bills on Person with Disability, Merchant Navy, Ports and Associated Activities.


 
The MPs also generally approved the draft on Organic Law of the Republic Attorney The 11th Parliament session will continue on Wednesday to discuss the bills on National Defence and Angolan Armed Forces, National Security, Interior Protection and Preservation of State Security.