Banco Angolano de Investimentos (Angolan Investment Bank), S.A. (BAI) took note of a statement from the National Bank of Angola (BNA), wich was aired on its website and in the media, with the title "Statement on the application of punitive measures on financial banking institutions by the failure of exchange rules".

After being formally notified by BNA and befitting to clarify its clients and the market, BAI reports that it was sanctioned for delays in providing information, as follows:

  • 4 day delay in sending the foreign currency necessity statement at May 27th 2016, which resulted in a fine in the amount of Kz 277,777.78 (277,777 Kwanzas and 78 Cents);
  • 3 day delay in sending of the foreign currency necessity statement at the 3rd of June 2016, which resulted in a fine in the amount of Kz 208,333.33 (208,333 Kwanzas and 33 Cents);
  • 2 days delay in sending the foreign currency necessity statement at June 10th 2016, which resulted in a fine in the amount of Kz 138,888.88 (138,888 Kwanzas and 88 Cents);
  • 1 day delay in sending the foreign currency necessity statement for the 20th auction, which resulted in a fine in the amount of Kz 69,444.44 (69444 Kwanzas and 44 Cents).

BAI retains its commitment with the compliance of the banking system rules, continuing to strengthen their internal control procedures for this purpose.

Banco Angolano de Investimentos (Angolan Investment Bank), SA

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