The precautionary measure of suspension of participation in the foreign exchange market, for a period of 45 days, aims to "ensure the rights of depositors and the protection of investors" and also protect the Angolan financial system, the central bank explained in a statement.
The decision came after a "one-off inspection" of Finibanco Angola to "assess the degree of compliance with the regulations regarding the execution of foreign exchange operations" and "the criteria for the classification of risk operations".
The infringements detected include non-compliance with the duty to classify the risk profile of customers, as well as the justification of the origin of the funds for carrying out foreign exchange operations for the Maintenance of Individuals and Travel.
In the press release, the central bank also referred to the non-compliance with the duty to control the entry of goods in import transactions and the non-compliance with the duty to report suspicious transactions to the Financial Information Unit (FIU).
The BNA also pointed out that it detected a breach of the duty to provide the institution with an internal control system suited to the legally defined objectives, in order to properly identify and assess the risks inherent to financial operations.
