Africa-Press – Angola. Angola’s reintegration into the international financial system through the approval of accounts in dollars and euros with US and European banks could expedite the purchase of goods and services, promoting imports and exports and boosting the economy.
Celso Rosa, CEO of the Port of Lobito, told that the recent approval of dollar accounts with Standard Bank Angola and J.P. Morgan, the largest bank in the United States, marks the country’s return to the international financial system after being suspended from foreign exchange operations ten years ago.
Banco de Fomento Angola (BFA) has also received approval to open a euro account with Deutsche Bank, a German bank.
According to Rosa, the initiative will streamline product acquisitions and further promote the country’s economic diversification. He emphasized that this national financial framework will provide relief and greater efficiency for companies, importers, exporters, and citizens seeking foreign currency for various purposes.
Rosa said that the decision to reintegrate Angola into the global financial system represents recognition of Angolan institutions’ adjustments to best practices and standardization of international norms.
“We are practicing increasingly transparent processes and procedures based on integrity and democracy. International institutions are witnesses to what is happening in Angola,” he said.
He added that the country is experiencing an irreversible revolution that will bring positive changes to Angolans.
In late 2015, foreign currency purchase and sale operations with US banks were suspended in Angola after US regulators detected compliance failures and suspicions of money laundering in financial transactions in the country.
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