3 February 2013

Angola: New Banknotes Security Standard Helps Fight Laundering

Luena — The new serial of the Angolan currency (Kwanza) banknotes recently released by the Reserve Bank (BNA) has international standards of security that makes the phenomenon of money laundering difficult, Angop learned.

This was said Saturday in Luena, eastern Moxico province, by Angolan economist, Guimarães Pinto Luís.

Commenting on the recent release of the new banknotes, the economist said the bills bear codes of high standards of trust and more durability.

To the specialist, in addition to the security and credibility, the new Kwanza bill has a durability of seven years before it is replaced, including the beauty, pictures and the landscape depicting traces of the Angolan identity printed on it.

Guimaraes Pinto Luis who holds a Master's degree from the US UNINI University, explained that the release of the metallic coins is mainly intended to facilitate change, especially in the retail market.

He explained that the new banknotes will not change the people's purchasing power as the bills will not be replaced immediately.

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