Africa-Press – Angola. The National Bank of Angola (BNA) imposed a fine of 30 million kwanzas on Banco Keve for non-compliance with rules and procedures inherent in carrying out foreign exchange operations.
According to a statement published at the end of Tuesday, on the institution’s website, the BNA, within the scope of fulfilling its powers and duties, carried out a specific inspection of Banco Keve to assess the degree of compliance with the regulations regarding the execution of foreign exchange operations, having detected several infractions.
Among the failures observed are failure to comply with rules and procedures inherent to foreign exchange operations, failure to comply with the duty to identify and assess the risk profile of customers in import and export transactions of goods, as well as deficiencies in the implementation of the Governance model corporate. “In order to ensure the stability of the national financial system, the BNA determined the application of the pecuniary sanction measure in the amount of 30 million kwanzas for non-compliance with the rules and procedures for carrying out foreign exchange operations, the suppression of deficiencies detected in the systemsubject of internal control, within a maximum period of 45 days from the date of notification and while the suppression of detected deficiencies and even contrary instructions from the BNA takes place, subject to the validity of the Compliance Officer and the express approval of the administrator of this area, of all foreign exchange transactions equal to or greater than the equivalent of US$20,000.
Recently, the BNA suspended Finibanco Angola, SA from participating in the foreign exchange market, for a period of 45 days, allegedly for violating various regulations regarding the execution of foreign exchange operations and the criteria for risk operations.
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