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Wed, 21 Nov 2018 09:25 - Updated Wed, 21 Nov 2018 09:28

Bank of Portugal identifies Angolan customers

Lisbon - The Bank of Portugal has ordered the identification of all Angolan customers and the investors with exposition to the Angolan market who have bank accounts in this European country.

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flags of the republics of Angola (left) and Portugal

Photo: arte

According to the Portuguese “Correio da Manhã” newspaper , the Portuguese Attorney-General Deparrtment has admitted that it has been providing information to the Angolan authorities about their citizens in Portugal.

In a recent interview to the Portuguese “Jornal Expresso” newspaper, the Angolan Head of State, João Lourenço – who is starting on Wednesday a three-day official visit to Portugal – said that he believes the European country can help Angola recover capital illegally placed outside the African country.

“The relationship between Portugal and Angola is such that perhaps it (Portugal) can collaborate with us the most (...)”, President Lourenço stressed.

Although João Lourenço does not have an estimate of the amount of Angolan money placed outside the country, he assured it is a very high quantity, adding that Angola may need to hire the services of specialists to recover the money.     

“The (Angolan) state will have to make deals with other states, like the one it made with Portugal, so that in this manner and in various fronts we can keep putting up pressure until we find the moneys of Angola”, João Lourenço underscored.

Meanwhile, as from January 2019 and more legitimised by the new law on Coercive Repatriation and Broad Capture of Assets – soon to be approved by the Parliament - the Angolan state may begin to confiscate or capture assets of its citizens which were irregularly acquired.

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