The BFA highlights in a press release that Deutsche Bank is “one of the largest and most prestigious financial institutions in Europe, licensed for clearing [responsible for settling and compensating transactions, ensuring contract compliance] in U.S. dollars.”
BFA emphasizes the importance for operational security of Deutsche Bank, now acting as a correspondent bank for this new service to clients, having a credit rating of ‘A’, which indicates a high capacity to meet its financial obligations.
According to the bank, this partnership, a significant milestone in BFA’s internationalization journey, will strengthen its integration into the international financial system and contribute to developing a more competitive national financial system.
“By partnering with a bank of recognized solidity and international leadership, BFA elevates the standard of its international payment and liquidity management services, consolidating its position as a reference in the Angolan financial system and enhancing its capacity to offer solutions with excellence levels aligned with international best practices,” it states.
Last week, Standard Bank de Angola also announced approval to open a correspondent account with J.P. Morgan, the world’s largest bank, in dollars and euros, marking the return of U.S. banks to the Angolan financial system.
