National Bank of Angola to ‘coerce’ banks into parting with their dollars
Central bank reserves dropped 12% in 2014
The National Bank of Angola will adopt a "coercive attitude" towards commercial banks that are refusing to provide dollars to some of their clients in the face of a greenback shortage in the country.
The central bank says it is "aware that some financial institutions operating in the domestic banking market have proceeded inappropriately, harming the interests of customers" by failing to provide dollars.
Banks are "depriving" clients of "using and moving the deposited funds" and, in doing so
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