The National Bank of Angola was set up in the year 1926. Though the sole aim of establishing the bank was to control the commerce of the country, still by the time the bank acted as the central bank.
During Angola's economic reforms process towards a market driven economy, the bank helped a lot. Over this period the Two-layer banking system was started wherein the National Bank of Angola acted as the central bank of the country.
In the year 1999, the bank started implementing so many steps with a view of stabilizing the country's economy.
The important functions of the bank is as follows:
- Preserving the value of the national currency
- Banker to the Government
- Acts as an intermediary in monetary relation
- Maintains stability in the domestic market
- It is the financer of the last resort
The Address and Contact details of the bank is as follows:
National Bank of Angola
Address:Avenida 4 de
P. O. Box 1243