Banking & Finance

Banking & finance law & regulation hinges on Cameroon’s membership of the Economic & Monetary Community of Central Africa (CEMAC) which has as two of its key organs the Bank of Central African States (BEAC) and the Central African Banking Commission (COBAC). This regional organisation as well as the parliament of member states share law-making powers in matters of banking & financial law.

Besides those relevant OHADA uniform acts in areas such as commercial law, commercial companies, debt recovery & measures of enforcement, security interests, cooperative societies, as well as domestic consumer protection laws, the banking & financial legal framework cuts across CEMAC regulations on the banking activity in the region, regulations on the restructuring of credit establishments, regulations on bank participation in the capital of commercial companies, rules determining the minimum capital of credit establishments, rules on the creation of branch and liaison offices of credit establishments, rules on the licensing (chartering) of credit establishments, rules on refinancing of credit establishments, bank supervision and control rules, money market rules, financial market regulation, financial market control and supervision, licensing of bank establishments for the provision of investment services, rules on the management of the electronic negotiation system, rules on guarantee mechanisms for financial markets, rules on the issuance and management of public negotiable instruments, rules on money laundering & terrorism financing, financial crime, foreign exchange regulation & supervision, rules on the accounting & reporting of currency operations, rules on the justification of international transfers and deposits on Nostro accounts, electronic money regulation, payment systems regulation & supervision, banks secrecy, regulation on systems, means and incidents of payment (checks, bills of exchange, letters of credit, etc), microfinance regulation, mobile banking regulation, rules on the liquidation of credit establishments, prudential standards & bank risk management rules, restructuring of credit establishments, rules on the structure of client credit portfolio of credit establishments, accounting regulations for credit establishments, regulation fixing the fees of banking services.