Luanda Leaks: Bank of Portugal governor heard in Parliament

  • ECO News
  • 26 February 2020

Members of the Budget and Finance Committee approved the governor of the Bank of Portugal hearing on March 4th.

The governor of the Bank of Portugal will be heard in Parliament next week on the Luanda Leaks case. Carlos Costa’s hearing in the Budget and Finance Committee is scheduled for March 4th.

This hearing stems from a request made by the Left Bloc (BE), which considered it “imperative that the Bank of Portugal clarify the monitoring it will be doing to financial activities related to Isabel dos Santos in Portugal.” The political party want “to establish all the responsibilities for the failures in the EuroBic money laundering prevention system.”

According to the investigation by the international consortium of journalists, Isabel dos Santos reportedly transferred more than 100 million dollars of Sonangol’s EuroBic accounts to an offshore company in Dubai.

Following the controversy, the businesswoman put her 42.5% stake in the bank for sale. Abanca is now conducting a due diligence to close the EuroBic acquisition, which is expected to take place in the coming weeks.