National Bank of Angola works on deposit guarantee fund

José de Lima Massano, governor of the National Bank of Angola

The National Bank of Angola is setting up a deposit guarantee fund that will secure savings up to 3 million kwanzas ($30,000), covering "around 90% of depositors", according to governor José de Lima Massano.

The statutes underpinning the fund were adopted by the economic commission of the Angolan council of ministers last week and the central bank is now working on implementation.

A spokesperson for the National Bank of Angola said the institution has made headway on many of the technical detail

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