Banque des États de l'Afrique Centrale (BEAC)

Overview

The Banque des États de l'Afrique Centrale (BEAC) is the central bank and monetary authority of the Economic and Monetary Community of Central Africa (CEMAC). Established by conventions signed in Brazzaville, Congo on 22 November 1972, with a parallel convention signed with France on 23 November 1972, the BEAC succeeded the previous note-issuing bank and commenced operations on 2 April 1973.

The BEAC serves six member states of the CEMAC monetary union:

• Cameroon
• Central African Republic (CAR)
• Chad
• Republic of the Congo
• Equatorial Guinea
• Gabon

The BEAC manages the Central African CFA franc (XAF), the currency of the CEMAC region, which maintains a fixed peg to the euro at a rate of €1 = F.CFA 655.957 exactly, guaranteed by the French Treasury. As of April 2026, the current Governor is Yvon Sana Bangui, who was appointed for a non-renewable seven-year term beginning 1 March 2024, selected by the Conference of Heads of State of the CEMAC region.

The BEAC headquarters is located in Yaoundé, Cameroon at 736 Avenue Mgr Vogt, BP 1917, and has maintained this location since January 1977. The institution plays a critical role in maintaining monetary stability, regulating payment systems, supervising banking operations (in coordination with COBAC), and promoting financial inclusion across the CEMAC zone.

Basic Identity

Classification

Inclusion Justification

What This Entity Oversees

Institutional Relationship: BEAC and COBAC

While the BEAC serves as the central bank and monetary authority for the CEMAC, direct banking supervision is delegated to a specialized institution:

COBAC (Commission Bancaire de l'Afrique Centrale) – The Banking Commission of Central Africa is institutionally part of the BEAC but operates as a quasi-independent supervisor with primary responsibility for:

• Off-site and on-site supervision of credit institutions
• Prudential regulation and standards
• Banking sector compliance

BEAC's Supervisory Role – The BEAC retains oversight of:

• Monetary stability implications of the banking system
• Coordination with COBAC on systemic issues
• Non-bank financial institutions (in some cases)
• Payment systems oversight

Historical Development of COBAC

• 16 October 1990 – CEMAC member states decided to pool banking supervision and created COBAC within the BEAC framework
• 17 January 1992 – Follow-up agreement harmonized banking regulations across the region
• January 1993 – COBAC became operationally effective as the unified banking supervisor

Licensing and Authorization

Credit institutions operating in the CEMAC must obtain authorization from COBAC. The process requires:

• Comprehensive business plans and organizational structures
• Evidence of qualified management and technical capacity
• Minimum capital requirements (varying by institution type)
• Compliance with prudential standards and governance requirements
• Approval by the COBAC Board following technical assessment

Prudential Standards

COBAC issues binding prudential regulations aligned with international standards (particularly Basel Committee recommendations), including:

• Capital Adequacy – Minimum capital ratios adjusted for risk exposure
• Liquidity Management – Requirements for liquid asset holdings and liquidity coverage ratios
• Credit Risk – Limits on sector exposure, large exposures, and related-party lending
• Asset Quality – Provisions for non-performing loans and classification standards
• Governance – Requirements for board oversight, risk management, and internal controls
• AML/CFT – Know-Your-Customer (KYC) standards, transaction monitoring, and suspicious activity reporting

Policy Objectives

The BEAC views financial inclusion as a core objective aligned with monetary stability and economic development. Key targets include:

• Expand access to formal financial services across all CEMAC member states
• Leverage digital payments and mobile money to reach unbanked populations
• Support SME and agricultural finance through targeted programs
• Achieve 60% financial inclusion rate by 2029

Mobile Money as Inclusion Engine

With over 40 million active mobile money accounts as of 2023 and accounting for 94.8% of electronic transactions, mobile money is the primary vehicle for financial inclusion in the CEMAC region. The regulatory framework supports:

• Low-cost account opening with simplified KYC for small-value accounts
• Tiered customer due diligence allowing progressive information collection
• Interoperability enabling network effects and service expansion
• Competitive entry by fintech firms expanding service variety

E-Money Licensing and Issuance

Under CEMAC Regulation No. 04/18/CEMAC/UMAC/COBAC, entities can become e-money issuers by:

1. Obtaining authorization from their home country's National Monetary Authority
2. Securing COBAC approval
3. Meeting capital, governance, and operational standards
4. Implementing AML/CFT controls proportionate to transaction value

This framework has enabled expansion of e-money services beyond traditional banks and telecom operators.

Digital Finance Innovation Support

The BEAC supports digital finance innovation while maintaining prudential oversight:

• Regulatory Sandboxes: [UNVERIFIED – May be available in specific member states]
• FinTech Forum: Hosts annual FinTech Forums (e.g., January 2024 Douala forum) to engage with innovators and discuss regulatory evolution
• Capacity Building: Provides guidance to fintech operators on compliance requirements and regulatory expectations
• Standard Setting: Develops regulatory standards for emerging payment technologies and service models

Cryptocurrency Policy

The BEAC has taken a firm regulatory stance against cryptocurrencies in the CEMAC region:

• No Regulation: The BEAC has explicitly rejected calls for cryptocurrency regulation, expressing that regulatory frameworks are not currently appropriate
• Foreign Exchange Concern: The primary regulatory concern is that cryptocurrencies could deplete CEMAC's foreign exchange reserves if widespread adoption occurs
• Alternative Focus: The BEAC is emphasizing digital payment innovation within the CFA franc ecosystem rather than supporting decentralized or foreign-denominated digital assets

Regulatory Framework

The BEAC operates within a comprehensive AML/CFT framework established at the CEMAC regional level and enforced through its institutions:

Primary Instruments:

• CEMAC Regulation No. 01/03-CEMAC-UMAC (April 2016) – Core AML/CFT regulation on prevention and suppression of money laundering, terrorist financing, and proliferation financing
• COBAC AML Directives – Binding prudential regulations on customer due diligence, transaction monitoring, and suspicious activity reporting applicable to all financial institutions
• National Implementing Legislation – Each CEMAC member state enacts national AML laws aligned with CEMAC directives and international standards

Supervisory Coordination

COBAC's Direct Role:

• Conducts on-site and off-site AML/CFT supervision of banks and payment institutions
• Issues AML/CFT directives and supervisory guidance
• Conducts investigation and enforcement for violations

BEAC's Coordinating Role:

• Monitors AML/CFT compliance implications for monetary stability
• Coordinates regional AML/CFT policy development
• Supports payment systems oversight to prevent financial crime

National Financial Intelligence Units (ANIF):

• Each CEMAC member state maintains a Financial Intelligence Unit (ANIF – Autorité Nationale d'Investigation Financière)
• ANIFs conduct investigations, analyze suspicious activity reports, and coordinate international requests
• Regional Summary Reports: ANIFs submit regional reports to BEAC and CEMAC every six months

GABAC Membership and International Coordination

GABAC (Groupe d'Action contre le Blanchiment d'Argent en Afrique Centrale) – Action Group against Money Laundering in Central Africa:

• Regional FATF-style mutual evaluation body covering all CEMAC member states
• Conducts mutual evaluations and monitors compliance with FATF 40 Recommendations
• Coordinates AML/CFT capacity building and technical assistance
• Regional coordinator for ANIFs in member countries

Customer Due Diligence Standards

Financial institutions must implement tiered KYC/CDD requirements:

Simplified Due Diligence:

• For low-risk customers and transactions
• Reduced documentation requirements for small-value mobile money accounts
• Expedited account opening with progressive information collection

Standard Due Diligence:

• Identity verification with government-issued documents
• Source of funds determination
• Beneficial ownership identification
• Business relationship assessment

Enhanced Due Diligence:

• For high-risk customers (PEPs, high-net-worth individuals, correspondent relationships)
• Detailed beneficial ownership and source of wealth verification
• Ongoing enhanced monitoring
• Senior management approval

Sanctions Screening:

• Screening against UNSC sanctions lists, OFAC designations (for USD transactions), and national designation lists
• Real-time screening for new accounts and transactions
• Regular list updates and remediation procedures

Transaction Monitoring and Reporting

• Suspicious Activity Reporting (SAR): Mandatory reporting to ANIF and COBAC of suspicious transactions, with no predefined threshold; reporting based on risk-based assessment of customer activity patterns
• Currency Transaction Reporting: Reporting of large cash transactions (thresholds vary by member state; in Cameroon, threshold is 10 million CFA francs)
• Structuring and Avoidance: Prohibition on "smurfing" and other patterns designed to evade reporting thresholds
• Record Retention: Seven-year retention of transaction records and customer information

Ongoing Compliance

• Risk-Based Monitoring: Continuous monitoring of account activity proportionate to customer and transaction risk profile
• Annual Updates: Periodic refresh of customer information and beneficial ownership data
• Adverse Media Screening: Ongoing screening for adverse media mentions indicating sanctions exposure or criminal activity
• Transaction Limit Monitoring: Alerts for significant changes in account activity patterns or volume

Enforcement and Sanctions

The BEAC and COBAC enforce AML/CFT compliance through:

• Corrective Orders: Directive to remediate deficiencies within specified timeframes
• Fines and Penalties: Administrative monetary penalties for non-compliance
• License Suspension or Revocation: Withdrawal of authorization for severe or persistent violations
• Criminal Referral: Cases involving facilitation of money laundering or terrorist financing may be referred to national authorities for criminal prosecution

Regulatory Powers

BEAC and COBAC Authority

While the BEAC exercises primary authority over monetary policy and payment systems, COBAC is the primary vehicle for supervisory enforcement of banking regulations and prudential standards. The institutional relationship is defined by BEAC statutes and CEMAC regulations.

Supervisory Powers

On-Site Examinations:

• COBAC conducts comprehensive on-site inspections of credit institutions
• Examination teams assess compliance with prudential standards, AML/CFT requirements, and governance standards
• Special examinations can be initiated based on risk assessment or supervisory concerns

Off-Site Monitoring:

• Quarterly and annual regulatory reporting by banks and financial institutions
• Automated systems to identify outliers and emerging risks
• Analytics flagging deviations from prudential thresholds

Information and Document Requests:

• COBAC can request any documents, records, or information necessary for supervisory assessment
• Banks must provide timely responses to supervisory inquiries

Corrective Measures (Progressive Enforcement)

Supervisory Guidance and Directives:

1. Informal Guidance – Discussion of deficiencies with institution management and recommendations for remediation
2. Formal Directives – Written orders specifying deficiencies and required corrective actions with defined timeframes (typically 30–90 days for standard deficiencies)
3. Supervisory Agreements – Formalized remediation plans with milestones and progress checkpoints

Remedial Actions:

• Increase in minimum capital ratios
• Restrictions on dividend payments pending capital restoration
• Prohibition on new business lines or acquisitions
• Required appointment of additional supervisory personnel on bank boards
• Limits on related-party transactions

Administrative Sanctions

Monetary Penalties:

• Fines for violations of regulatory requirements (amounts Requires verification from official sources – specific penalty schedules are published in COBAC regulations)
• Penalties assessed per violation and potentially per day of non-compliance for ongoing violations

Non-Monetary Sanctions:

• Suspension of Authorizations – Temporary suspension of specific activities or service lines
• Revocation of License – Withdrawal of authorization to operate as a credit institution, typically following failure to remediate or repeated serious violations
• Public Notices – Issuance of public notices of enforcement actions (in severe cases) to alert customers and market participants

Coordination with National Authorities

• Dual Supervision: COBAC supervises prudential compliance at the regional level; member states may maintain additional national supervisory oversight
• Information Sharing: COBAC coordinates with national financial supervisors, ANIFs, and law enforcement on enforcement matters
• Cross-Border Actions: For violations involving multiple member states, COBAC coordinates enforcement across jurisdictions

Procedural Safeguards

[UNVERIFIED – Specific procedural safeguards, notice periods, and appeal mechanisms in COBAC enforcement are not detailed in publicly available summaries; institutions should consult COBAC regulations for detailed procedures]

Regulatory Role and Function

Legal Foundation

Foundational Instruments

The BEAC's legal authority derives from:

1. The 1972 Monetary Cooperation Conventions – Signed in Brazzaville on 22-23 November 1972 by Cameroon, CAR, Chad, Republic of the Congo, Gabon, and France; these form the primary treaty basis for BEAC's establishment and operation.
2. BEAC Statutes – Initially adopted in 1972 and subsequently revised in 1999 (to enhance operational independence) and in 2021 (to align with evolving economic governance), the statutes define the institution's objectives, governance structure, and powers.
3. CEMAC Treaty of N'Djamena (1994) – While BEAC predates CEMAC, the formal CEMAC treaty (signed in 1994 to establish the Economic and Monetary Community of Central Africa) integrates BEAC as the monetary authority of the union and provides an overarching institutional framework.
4. CEMAC Regulations and Directives – Issued by BEAC and enforced through CEMAC institutions (particularly the Monetary Policy Committee), these govern monetary policy, banking supervision, payment systems, and financial regulation across member states.

Governance Structure

Board of Directors – Comprises representatives from the six CEMAC member states and France, providing institutional oversight and governance.

Monetary Policy Committee (MPC) – The highest monetary policy-making body, consisting of:

• The Governor (Chair)
• Two representatives of the French Government
• Two representatives from each of the six CEMAC member states (including the BEAC National Director for each country)

The MPC defines monetary policy, determines the policy rate, and oversees monetary instruments and operations.

National Directorate – Each CEMAC member state has a National Directorate within the BEAC structure that coordinates with local monetary authorities and implements regional decisions at the national level.

Licensing and Authorization Relevance

The Banque des États de l'Afrique Centrale (BEAC) is a key licensing authority in CEMAC's financial system:

The licensing process typically involves assessment of capital adequacy, fitness and propriety of management, business plan viability, AML/CFT compliance frameworks, and IT systems readiness.

Payments and Money Movement Relevance

CFA Franc Peg and Convertibility Framework

The Central African CFA franc (XAF) is anchored to a fixed exchange rate with the euro:

• Fixed Parity: €1 = F.CFA 655.957 (exact)
• Convertibility Guarantee: The French Treasury provides unlimited guarantee of convertibility at the fixed parity

This arrangement ensures:

• External stability and predictability for member states and traders
• Confidence in currency convertibility without time or quantity limits
• Constraint on monetary policy independence, as the exchange rate peg limits flexibility in interest rate setting

Monetary Instruments and Policy Stance

The BEAC employs standard central banking instruments within the constraints of the fixed exchange rate regime:

1. Policy Rate – The BEAC's primary policy rate influences the regional money market and is set by the MPC.
2. Open Market Operations (OMOs) – Conducted to manage liquidity in the banking system through repos, outright purchases of securities, and discount window operations.
3. Reserve Requirements – The BEAC sets and adjusts reserve requirement ratios for banks to influence credit expansion and money supply.
4. Standing Facilities – The BEAC provides a lending facility (marginal lending rate) and a deposit facility (deposit rate) to manage overnight liquidity.
5. Regulatory Refinancing – Specialized refinancing operations (e.g., for agricultural finance, SME credit) to support targeted lending.

Foreign Exchange Reserves and Operations Account

Since 1972, the BEAC has maintained an Operations Account with the French Treasury:

• Reserve Deposit Requirement: Since 2005, the BEAC has been required to deposit 50% of its foreign exchange reserves in a special French Treasury operating account. This requirement remains in effect as of 2026 (unlike the West African CFA franc, where this requirement was dropped in 2019, effective in 2021).
• Unlimited Overdraft Facility: The BEAC has unlimited overdraft access to the Operations Account, ensuring convertibility at the fixed parity.
• Strategic Reserve Management: The BEAC actively manages its reserve portfolio to ensure adequate buffers against external shocks while meeting the 50% deposit requirement.

Monetary Policy Transmission

The BEAC's monetary policy transmission operates through:

• Banking System: Changes in the policy rate influence bank lending rates and credit availability
• Money Market: OMOs manage interbank liquidity and short-term rates
• Exchange Rate Channel: Limited scope for exchange rate adjustment due to the fixed peg
• Capital Flows: Limited de facto capital mobility provides some scope for monetary policy actions, though the framework is described as "mostly passive" in practice

Real-Time Gross Settlement: SYGMA

SYGMA (Système de Gros Montants Automatisé) – The real-time gross settlement system for large-value transactions:

• Operational Since: 19 November 2007 (deployed across all CEMAC countries)
• Function: Processes liquidity transfers individually, in real-time, on a final and irrevocable basis once funds are available in the payer's settlement account
• Use Cases: Large interbank transfers, government transactions, international payments
• Settlement Currency: Central African CFA franc (XAF) denominated
• Governance: Operated under BEAC supervision; participation limited to authorized financial institutions

Net Clearing System: SYSTAC

SYSTAC (Système de Télécompensation en Afrique Centrale) – The automated net clearing system for mass payments:

• Operational Since: 2007
• Function: Processes high-volume debit and credit operations on a dematerialized, net basis
• Transaction Types: Bank transfers, check clearing, bills of exchange, card operations, mobile money transactions
• Transaction Limits: Processes transactions with individual amounts under 100 million CFA francs
• Settlement Frequency: Daily net settlement through SYGMA
• Governance: Operated by GIMAC (Groupement Interbancaire Monétique de l'Afrique Centrale) under BEAC oversight

Interbank Card System

Système de Monétique Interbancaire – Processes card-based transactions (debit, credit, prepaid) across the CEMAC region through an interoperable network.

Mobile Money and Digital Payments

Framework and Regulatory Approach

As of 2026, the BEAC has implemented comprehensive regulations for mobile money and digital payment services under CEMAC Regulation No. 04/18/CEMAC/UMAC/COBAC (adopted December 2018, effective 1 January 2019):

• E-Money Licensing: Digital payment service providers and e-money issuers must obtain authorization from the National Monetary Authority of their home country, with approval by COBAC
• Payment Service Providers (PSP): Authorized to provide payment initiation, account information, and other services under the regulatory framework
• No Mandatory Technical Partnership: Unlike legacy frameworks, fintech companies can issue e-money without being obligated to partner with banks or microfinance institutions

Market Penetration and Growth

As of 2023:

• Mobile Money Transactions: Account for 94.8% of all electronic transactions in CEMAC
• Transaction Volume: 3.7 billion operations totaling 171,943 billion CFA francs (up 45.99% year-on-year)
• Account Holders: Over 40 million mobile money accounts across the region
• Financial Inclusion Goals: CEMAC aims to achieve 60% financial inclusion by 2029, driven by digital payment expansion

Interoperability Initiative

The BEAC mandated mobile money interoperability, allowing customers of one mobile money operator to send funds to customers of competing operators seamlessly. This framework became effective in the region and has significantly expanded the utility of mobile money.

GIMACPAY and Partnership Expansion

• GIMAC (Groupement Interbancaire Monétique de l'Afrique Centrale) operates the GIMACPAY converged ecosystem, integrating cards, mobile payments, and money transfers
• Visa Partnership (2025): GIMAC and Visa signed an MoU to modernize the CEMAC payments ecosystem, with Visa technology integrated into GIMACPAY to provide international gateways for banks, microfinance institutions, and fintech
• Government Payments: Initiative to digitalize government payments and e-commerce using the modernized platform

Central Bank Digital Currency (CBDC) Exploration

In February 2026, the BEAC convened a regional seminar with financial regulators to discuss:

• Economic implications of central bank digital currencies in CEMAC
• Regulatory frameworks for crypto-assets
• Potential introduction of a digital CFA franc (e-CFA)
• Payment system digitalization and innovation
• Financial stability and financial inclusion dimensions

The e-CFA project remains on the BEAC's monetary agenda as of April 2026, though implementation timeline and technical specifications are Requires verification from official sources.

CFA Franc Framework and Parity

The BEAC manages the Central African CFA franc (XAF) under a fixed exchange rate regime:

• Currency Code: XAF (ISO 4217)
• Fixed Parity: €1 = F.CFA 655.957 exactly
• Convertibility: Guaranteed by the French Treasury without limit
• Reserve Requirements: 50% of BEAC's foreign exchange reserves must be deposited in a French Treasury Operations Account (requirement in effect since 2005; unique to Central African CFA franc after West African CFA reform in 2019)

Capital Controls and Exchange Restrictions

CEMAC member states maintain varying capital control regimes:

• Convertibility in Current Account: Generally permitted for trade-related and service transactions
• Capital Account: Restrictions apply to direct investment, portfolio flows, and repatriation of profits; member states may impose limits on foreign investment repatriation
• Authorization Requirements: The BEAC and national monetary authorities issue authorization for certain cross-border flows
• Exchange Market: The BEAC monitors and, where appropriate, intervenes in foreign exchange markets to support the fixed parity

Operations Account Mechanism

The Operations Account with the French Treasury is a critical mechanism for maintaining the fixed parity:

• 50% Deposit Requirement: Since 2005, the BEAC has maintained 50% of its foreign exchange reserves on deposit in a special French Treasury account (unlike the West African CFA franc, where this was reduced to 0% in 2021)
• Unlimited Overdraft: The BEAC can overdraw the Operations Account without limit to ensure convertibility
• Strategic Reserve Management: The remaining 50% of reserves can be invested or held according to BEAC decisions
• Interest on Deposits: France provides interest on deposits, though at below-market rates

Broader Monetary Union Framework

As a member of the CEMAC monetary union, individual member states do not maintain separate exchange rate regimes. The CFA franc peg is managed at the union level by the BEAC, with participation from all six member states through the Monetary Policy Committee.

Payment Systems Governed or Overseen

The BEAC operates and/or oversees the national payment and settlement infrastructure of CEMAC. Specific systems include:

[Further detail on specific system names requires verification from official sources]

Relationship to Other Regulators

International Monetary Fund (IMF)

The BEAC coordinates regularly with the IMF through:

• Article IV Surveillance: Annual IMF consultations on monetary policy, fiscal policy, and financial sector stability
• Technical Assistance: IMF provides technical assistance on payment systems development, banking supervision, and monetary policy frameworks
• Bilateral Support: The IMF maintains bilateral arrangements with individual CEMAC member states
• Financial Arrangements: Select CEMAC members have benefited from IMF facilities (Stand-By Arrangements, Extended Facilities) for balance-of-payments support
• Six-Month Coordination: Finance ministers of the franc zone meet every six months prior to IMF spring and annual meetings

World Bank

The BEAC engages with the World Bank on:

• Financial Sector Development: Support for banking system strengthening and regulatory modernization
• Payment Systems Infrastructure: Technical assistance and financing for SYGMA, SYSTAC, and digital payment initiatives
• Financial Inclusion: Joint initiatives to expand access to formal financial services
• Capacity Building: Training and institutional strengthening programs

Banque de France

The BEAC maintains special relationships with the Banque de France due to the CFA franc framework:

• Monetary Partnership: France, as guarantor of CFA franc convertibility, coordinates with BEAC on monetary policy matters
• Technical Support: The Banque de France provides technical expertise on central banking operations and payment systems
• Reserve Management: Coordination on management of the Operations Account and foreign exchange reserves
• Representation: France appoints two directors to the BEAC Board and two members of the Monetary Policy Committee
• Material and Technical Support: The Banque de France and French administration provide substantial material and technical support to BEAC

Association of African Central Banks (AACB)

The BEAC is a member of the AACB, an institution established to:

• Promote cooperation among African central banks
• Facilitate sharing of best practices and technical experience
• Support monetary and financial integration in Africa
• Provide a forum for policy dialogue

The AACB was first proposed at the 1963 Summit Conference of African Heads of State in Addis Ababa and has evolved into a key coordination mechanism for African monetary authorities.

Other Regional Central Banks

• BCEAO (Central Bank of West African States): Peer central bank managing the West African CFA franc; coordination on CFA franc policy framework, particularly given the 2019 reform of the West African CFA
• EACB (East African Central Banks): Engagement on regional monetary integration issues
• Southern African Central Banks: Participation in regional forums on monetary policy and payment systems

Geography and Jurisdiction Notes

Important Departments and Divisions

Key Public Resources

Headquarters

Banque des États de l'Afrique Centrale (BEAC)

736 Avenue Mgr Vogt

BP 1917 Yaoundé

Cameroon

Contact Information:

• Phone: (+237) 222 23 40 30 / 222 23 40 60
• Email: [email protected]
• Website: https://www.beac.int/en/

Official Websites and URLs

• BEAC English Portal: https://www.beac.int/en/
• Monetary Policy Information: https://www.beac.int/en/ (Policy rates, monetary policy statements)
• Payment Systems: https://www.beac.int/systemes-paiement/ (Information on SYGMA, SYSTAC, and payment system regulations)
• Contact and Office Locations: https://www.beac.int/en/contact/
• National Directorate – Cameroon: https://www.beac.int/bureaux/direction-nationale-de-yaounde/

Related CEMAC Institutions

• COBAC (Banking Commission): https://www.cobac.cm/ (Banking supervision and regulation)
• GIMAC: Information on payment system operators and interoperability frameworks

Databases and Reference Sources

• BEAC Publications: Annual reports, monetary policy statements, and regulatory texts available on BEAC website
• IMF Country Pages: CEMAC member state surveillance reports and assessments
• World Bank Financial Sector Assessment Program (FSAP): https://www.worldbank.org/ (Financial stability assessments for CEMAC)
• GABAC: https://www.fatf-gafi.org/en/countries/global-network/gabac.html (Regional mutual evaluation reports and AML/CFT coordination)

Governor and Leadership

Current Governor (as of April 2026):

• Yvon Sana Bangui – Appointed 1 March 2024 for a seven-year, non-renewable term
• Selection: Chosen by the Conference of Heads of State of CEMAC

Governance Bodies:

• Board of Directors (representatives from six CEMAC states and France)
• Monetary Policy Committee (Governor, French representatives, member state representatives)

Notes on Naming and Language