National Bank of Angola

Kwanza

Www.bna.ao/

Banco de Angola

The Angolan National Bank (Portuguese: Banco Nacional de Angola) is the central bank of Angola. The Kwanza is the currency of Angola and is emitted from the Angolan National Bank. The annual inflation rate is currently 11.38% ( end of 2011).

The head office is at Av. 4 de Fevereiro, close to the German Embassy in Luanda.

The Governor is José de Lima Massano. He was appointed in October 2010 by President José Eduardo dos Santos.

Money laundering scandal

The State Bank from 2009 was the victim of a corruption case or a case of money laundering, as the government account of the BNA Banco Espírito Santo in London successively up to 160 million U.S. dollars have been moved to different accounts abroad. This went well until the minimum balance in the government accounts should be tapped, after which the bank informed the Angolan authorities. With bogus bills to the BNA should for imported products that were never delivered to Angola, or other completely fictitious as snow plows payments are made. Part of the money is already ensured again. In this context, among other Nobel sedans, as well as expensive luxury apartments were seized in Portugal. Involved were Portuguese and Spanish business people, as well as various employees of the Angolan Ministry of Finance and the headquarters of the BNA in Luanda that have already been convicted in Angola. In Portugal is still a case pending before the judiciary, the President of the Banco Espirito Santo Angola ( BESA ), Álvaro Sobrinho. The Portuguese and Angolan authorities accuse him of money laundering and fraud .. These allegations could still not be detected and were designated by the investigating judge to be totally unfounded. The court decided against the prosecution and returned the confiscated assets to Mr. Alvaro Sobrinho without any support with immediate effect.