Ver Angola

Economy

Angola will have mediation and extrajudicial arbitration services in the financial system

The Financial System Supervisory Board (CSSF) announced this Thursday that a study will be carried out to create a Mediation and Arbitration Service for the Extrajudicial Resolution of Disputes over financial services and products.

: DW/N. Sul d'Angola
DW/N. Sul d'Angola  

This is one of the five decisions taken at the 9th ordinary session of the CSSF, held on 30 September, and published this Thursday by the National Bank of Angola.

According to the central bank's statement, the CSSF analysed the performance and main risks of the national financial system in the first half of 2024, the degree of implementation of its Strategic Plan and the status of the transition process of investment in securities and derivative instruments to securities distribution companies.

The council also determined the creation of a working group to assess the risk of money laundering, terrorist financing and proliferation of weapons of mass destruction in the financial sector, starting on 1 November this year.

The supervisory body also addressed issues related to the implementation of the management system for the primary market for treasury bonds.

The meeting also served to advance the preparation of the next CSSF Strategic Plan 2025-2030 and the creation of a working group to ensure the alignment of changes and impacts of the Law on Insurance Mediation and Brokerage, in view of the new financial services and market needs.

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