Africa Banking Currency Finance

Bank of Angola excludes 19 banks from currency auction

Only seven commercial banks are eligible to participate in this week’s Central Bank foreign exchange auction, namely Standard Chartered Bank, Standard Bank, Finibanco, BPC, BDA, Angolan Commercial Bank, being excluded 19, for not presenting the execution report of previous edition.

According to a document from the National Bank of Angola (BNA) Exchange Control Department, which Angop had access to today, the other 19 commercial banks were barred from participating in this week’s foreign exchange auction (22-26 July), for failing to submit currency execution reports obtained at last week’s auction (No. 44/2019 of 15 July) or for under 50% execution.

Thus, the next foreign exchange auction excluded the following banks Millenium Atlantico, BAI, Caixa Geral Angola, Huambo Commercial Bank, BCI, Southern Credit Bank, Economic Bank, BFA, BIC, Rural Investment Bank, Kwanza Invest Bank, Micro Bank -Finance, BNI, Prestige Bank, Value Bank, Sol, VTB and Yetu Bank.

Source: Angop

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