The North African Bank is a commercial bank to serve retail, government and business clients in Republic of the Angola. It is located in Angola's capital Luanda, where it is regulated by the new local financial authorities and is awaiting issuance of licenses for comprehensive retail and corporate banking and Investment services.
It is expected that our bank will start providing some of its services already in the year 2019.
The president is Jeremiah David Heaton. The Bank is owned by the Commonwealth of Virginia, USA based company Red Sea Economic Development Corporation (RSEDC), SCC ID: 08354557.
In the near future NAB will start actively seeking strategic partners/investors so that it can execute and expand its services more efficiently and effectively through lower cost of capital and operation both in the east Africa and worldwide.
The bank's mission is the commitment to the development of modern Angolan society, in which citizens and business can participate in the capital and financial services without limits, and to fulfill their needs in the most efficient manner and contribute this way to the socioeconomic growth of the whole country and the north east African region.
Besides from basic lending, local and cross-border transactional services, assets custody and their active management our bank is also seeking the authority to get established in Angola as a clearinghouse for capital markets, goods trade and interbank clearing space. It is set to offer retail and institutional investing, advanced asset management and brokerage services in local and world capital markets. It aims to achieve this principally through exploitation of the state of the art in big data, machine learning and artificial intelligence (AI) systems. It will utilize robot AI advisers, brokers, traders and managers.
On the security front our bank will be facilitating escrow services to small private clients as well as large institutional clients in day to day trade or significant transaction such as holding collateral deposits in governmental infrastructure tenders, corporate merger and acquisitions, asset swaps etc. All our clients will benefit from our security measures in protection of their assets with the state of the art AI risk and fraud management.