The challenge was launched this Tuesday, in Luanda, by the Economic Team of the Economic Commission of the Council of Ministers during a meeting with the Angolan Banks Association (ABANC), led by the Minister of State for Economic Coordination, José de Lima Massano.
The meeting served to listen and understand the main constraints and challenges that the banking sector faces, says the Government in a statement to which VerAngola had access.
The Economic Team also encouraged ABANC members to be more innovative, seeking to make available to economic agents a wider range of financial products and services that satisfy the real needs of the market, especially with regard to the textile and manufacturing industry, agribusiness and agricultural insurance, as long as they do so with "sound and prudent management of the risks associated with them".
In turn, members were concerned about the need for a more balanced fiscal policy approach for the banking sector, judging by the impact of the application of International Accounting and Financial Reporting Standards (IAS/IFRS), as well as of Interbank Monetary Market (MMI) operations.
ABANC also highlighted the need for the Executive to create mechanisms that contribute to the dynamization of the capital market, aiming at the diversification of financing sources as an alternative to banking, the optimization of public and private partnerships, the massification of financial inclusion and the elimination of legal barriers to access to information for the purposes of formalizing new credit operations.
On the part of the Executive, willingness was expressed to continue dialogue with ABANC, with a view to identifying and overcoming the main constraints that affect the banking sector in its action to assist the process of economic development.
