Resources for Basel II Capital Accord (Basel II)

Angola: Banking System Seeks to Conform to Basel II

allafrica.com

Angola's Reserve Bank (BNA) intends the country's banking system to become stronger and compliant with the regulations of the Basel II Accord, with a view to meeting the challenges of the international market.

This was said Monday in Luanda by BNA vice governor, Rui Minguês.

According to the official, who was addressing the opening of the seminar on "New Basel II Accord", BNA, in its capacity as Central Bank and supervisor of the country's banking activity, is enforcing a set of regulations, aiming at the efficient functioning of the financial institutions and working in a safe environment.

He said the first step towards the safeguard of the good functioning of the financial institutions was the promulgation of the New Accounts Plan that reflects, to a great extension, the approximation to the Basel Accord II and the regulation on the capitals and needs of capital for each type of risk.

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