Namibian central bank clarifies on concerns aired by president.
Global Banking News-October 23, 2015--Namibian central bank clarifies on concerns aired by president
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Global Banking News - 23 October 2015
The Bank of Namibia has issued clarifications on concerns aired by the nation's president.
The apex bank has reassured president Hage Geingob after he aired concerns about the bank's decision to remove the diamond security feature from the NAD10 and NAD20 notes. The president also had reservations about the bank entering a currency conversion agreement with the Banco Nacional de Angola.
In June, the central bank went into a currency conversion agreement with the Angolan central bank and this month the bank removed the diamond security feature from the country's two low denomination notes, which were put into circulation a day ago.
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