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Banking sector increases spending on human resources, technical improvements

Thu, 06 Jul 2017 08:26 - Updated Thu, 06 Jul 2017 08:26

chairman of the Angolan Banks Association (ABANC), Amílcar Silva.

Photo: Joaquina Bento

Luanda - Angolan banks are having increased spending on human resources and information technology means, with a view to adjusting themselves as soon as possible to the best international practices and procedures, said last Wednesday, in Luanda, the chairman of the Angolan Banks Association (ABANC), Amílcar Silva.

Amílcar Silva, who spoke to the press on the fringes of the conference on “Regulation and supervision in the banking sector, experiences and challenges”, promoted by the Angolan Central Bank (BNA), said that the country’s banking sector is very much concerned about the need to adopt the new regulations on good practices and supervision of the financial institutions.   

He went on to explain that the current concern of banks was stimulated by the 2008/2009 crisis, which has changed many things in the banking and financial sectors and caused the creation of new rules, whose implementation has a quick dynamics and with strong impact on the activities of the institutions.  

He admitted that the national banking sector has still a lot to do to achieve the necessary levels of competence, in the ambit of the good international practices, further suggesting that it is necessary to take decisive and concrete steps.

“There’s still a lot to be done for us to achieve efficiency. This is a process. We are relatively behind. We co-operated a lot in the past one year and a half, but we still have to take very decisive steps, concrete steps”, assured  the source.

In this ambit, Amílcar Silva announced that this week two other seminars are to take place to analyse two pertinent topics, namely supervision in the banking and financial area, as well as the regulation for these sectors.

He then emphasised that there is a great focus on staff training with a view to improving competences, which means the increase of competent cadres to deal with the current challenges of regulation and supervision.