Luanda — The governor of the National Bank of Angola (BNA), Manuel Tiago Dias, assured, on Thursday, the continuous strengthening of the guidelines and limits established by regulatory authorities, to guarantee the safety and soundness of financial institutions.
When speaking at the opening of the Workshop on corporate governance and internal control system, he highlighted that the continuous reinforcement of these matters constitutes a strategic priority for the Central Bank, as the monetary, regulatory and supervisory authority of the national financial system.
The manager declared that the BNA remains committed to promoting a modern, robust, inclusive financial system aligned with best international practices, permanently reinforcing prudential supervision mechanisms and safeguarding financial stability.
He recalled, on the occasion, the publication of notice 3/26, of February 23, as an instrument that reinforces the principles and responsibilities associated with Corporate Governance and internal control systems in financial institutions.
Follow us on WhatsApp | LinkedIn for the latest headlines
For the BNDES governor, more than a simple normative instrument, the notice reflects a strategic vision aimed at strengthening the culture of responsibility, ethics, transparency and prudent management within the supervised institutions.
He said it was necessary to ensure the responsibilities of management and supervisory bodies with greater clarity, reinforce the independence of control functions and promote the most effective, consistent and resilient internal supervision mechanisms.
Manuel Dias observed that Corporate Governance is no longer just a regulatory requirement, but is now an essential pillar of the solidity of financial institutions, the stability of the financial system and the protection of depositors and investors.
For him, a robust, independent and effective internal control system is crucial for safeguarding the integrity of operations, ensuring adequate risk management and guaranteeing the institutions' compliance with current regulations.
On the other hand, the president of the Board of Directors of Savings and Credit Bank (BPC), Cláudio Pinheiro, assured, on the occasion, that the financial institution has its own mechanisms based on the main risk indicators.
The director of Angolan Investment Bank (BAI), Ana Victor, highlighted that in terms of assessment itself, an indicator relating to the degree of compliance with internal control deficiencies is incorporated.
Sign up for free AllAfrica Newsletters
Get the latest in African news delivered straight to your inbox
"Therefore, executive administrators at the organization level feel the impact of closely monitoring and ensuring the resolution of deficiencies that are identified in the organization", he specified.
The workshop on corporate governance and internal control system aimed to create a space for technical reflection, sharing of experiences and rapprochement between the regulator, supervisors and financial institutions.
Divided into two panels, it addressed, among others, concrete experiences of Angolan financial institutions in relation to the challenges inherent to the implementation of Corporate Governance and internal control models, in the context of the Angolan financial system. HM/DC/DOJ
