The National Bank of Angola (BNA) announced this Friday that it will stop issuing interbank checks in the country as of December 31, 2024 and accepting them a year later due to the decline in their use.
According to BNA, the use of checks in Angola’s payment system has declined significantly due to “a preference for more modern, secure, faster and convenient payment instruments.”
As highlighted by the Angolan Central Bank, Multicaixa Expresss, RUPE and instant transfers were the most used payment mechanisms.
In a statement, BNA said that the issuance and acceptance of interbank checks will cease on December 31, 2024 (in terms of issuance) and December 31, 2025 (in terms of acceptance).
This measure is expected to reduce the level of risk that the above-mentioned instrument transfers to the Angolan payment system, its high cost, as well as the need for large investments in upgrading the system.
Author: Lusa
Source: CM Jornal
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