The ultimatum presented to the banks that operate in Cabo Verde only with non-resident customers to transfer to a general license by the end of the year aims to make the banking system more transparent and comply with international standards, said on Wednesday in Praia, the prime minister of Cabo Verde.
Ulisses Correia e Silva, who was speaking at a meeting with business people, recalled that the measure was announced in 2018, and a transitional period was given to allow financial institutions to adapt. He added that the issue has nothing to do with the “Luanda Leaks” case, a journalistic investigation that raised doubts about BIC Cabo Verde, owned by Angolan businesswoman Isabel dos Santos.
Currently, four banks with restricted authorisation operate in Macau, namely Montepio Geral, Banco de Fomento Internacional (BFI), Banco Privado Internacional (BPI) and Banco BIC, which is part-owned by Angolan businesswoman Isabel dos Santos, the target of the “Luanda Leaks” reports.
According to information provided to Portuguese news agency Lusa by the Bank of Cabo Verde, two of the four banks that operate in the country with restricted authorisation (Credit Institutions with Restricted Authorisation – ICAR) have requested and extension of their license to general use (Credit Institutions with General Authorisation – ICAG).
The central bank, according to the same source, did not say which banks had asked for the extension of their license, and, in line with the Government’s ultimatum, those that are not into ICAG will be closed by the end of the year.