Last Thursday, the Financial System Supervisory Board (CSSF) held its IV ordinary meeting, which was attended by permanent members, namely, the Governor of the National Bank of Angola, who chairs it, the President of the Board of Directors of the Angolan Agency for Regulation and Supervision of Insurance (ARSEG), the Chairman of the Board of Directors of the Capital Market Commission (CMC) and the Secretary of State for Finance and Treasury representing the Ministry of Finance, on condition that observer.
In a note from the National Bank of Angola, it is noted that, with regard to the objective of guaranteeing the transparency and credibility of the financial system, a summary was presented of the ongoing work carried out by ARSEG, with a view to updating its Chart of Accounts, with focus on the schedule of actions to comply with international financial reporting standards.
The meeting also discussed the status of the diagnosis of the level of implementation of ESG (Environmental, Social and Governance) policies by financial system operators, reiterating the principle of adopting cross-cutting recommendations in line with the commitments assumed by the authorities countries, particularly in relation to climate change.
The CSSF is a body that exercises coordination functions between the supervisory bodies of the National Financial System in the exercise of the respective powers of regulation and supervision of the entities and financial activities under its jurisdiction, incumbent upon it, among others, the advisory function towards the Banco Nacional de Angola (BNA), as the National Macroprudential Authority, in matters related to the definition and execution of the macroprudential policy for the National Financial System.
