BFA opens account in dollars at Citibank and makes history in Angola

O BFA describes, in a statement, the operation as “a landmark in its internationalisation strategy”, becoming the first Angolan bank to establish this connection with “one of the largest financial institutions in the world and one of the major banks in the United States.”.

This new relationship, describes the statement, “strengthens BFA’s ability to support its customers, companies and investors, creating possibilities for international payments, foreign trade and global financial flows, as well as new business opportunities, relationships with international institutions and partners.”.

“ By establishing this relationship, Citibank starts to provide its infrastructure and international network to support BFA operations processing, reinforcing the bank’s ability to monitor and facilitate the financial flows of its customers between Angola, the United States and the rest of the world,” the statement said.

The establishment of this relationship represents, according to the institution, “an important sign of trust in soundness, governance, risk control, compliance and ability to operate according to the highest standards of the international financial system”.

According to the BFA, “this framework reinforces the bank’s ambition to take an increasingly important role in linking the Angolan economy to the main international financial centres”.

“It’s an achievement for BFA, a milestone in the internationalization of Angolan banking and a step towards bringing Angola's global financial system ", says.