The Angolan Government recently challenged the national banking sector to further explore technological innovations, in order to support structuring programs to support national production.
The challenge was launched by the economic team of the Economic Commission of the Council of Ministers, during a meeting with the Angolan Association of Banks (ABANC), led by the Minister of State for Economic Coordination, José de Lima Massano.
The team encouraged ABANC members to be more innovative, seeking to make available to economic agents a wider range of technological financial products and services that satisfy the real needs of the market, especially in 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.
BUT: ABANC will bet on the digitization of Angolan banks
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.
