28 November 2018

Angola: Payment System Management Entails Good Practice

Luanda — The deputy governor of the National Bank of Angola (BNA) Rui Minguêns Oliveira Wednesday defended a management linked to good international practices to ensure a payment systems that meet public interest objectives (security, efficiency and inclusion).

The BNA deputy governor was speaking at the 8th meeting on Payment Systems of Portuguese Speaking Countries Community (CPLP)'s Central Banks.

Rui Minguêns stated that the payment systems, under their functions, should offer a platform for financial inclusion, in view of the level of economic and social development of the CPLP countries.

The manager also noted that increased transactions in domestic and international financial markets, the sophistication of financial products, the globalisation of markets and disintermediation require an effective, secure and efficient payment system.

He said that the initiative ensures preservation of stable functioning financial systems and provide more adequate support to productive, commercial and financial activities.

Still on payment systems, he added that regardless of the different stages of development in each country, the payment systems as a whole keeps posing many challenges in common.

The challenge requires the regulators and supervisors a permanent and focused attention, in order to ensure full operation on the basis of sound, safe, efficient and reliable principles.

The official said that the 8th meeting is taking place at a time the convergence between technology and financial services is increasing.

The event is running until Thursday with focus on topics like "Verified Developments in National Payment Systems, Fintech Payments and Financial Inclusion, Principles of Infrastructure Financial Market of CPMI / IOSCO and Fintech, DLT and Digital Currency.

The meeting is gathering representative of central banks of Angola, Cabo Verde, Mozambique, Portugal, São Tomé and Príncipe, East Timor and Monetary Authority of Macau.

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