Regulatory Alerts2021-02-24
Instruction No. 001/GR/2021 on the Operating Procedures of the Payment Incidents Central
The Governor of the Bank of Central African States (BEAC) issued Instruction No. 001/GR/2021 to define the operational procedures for the Payment Incidents Central (CIP) within the CEMAC region. The instruction mandates that all regulated financial institutions must join the CIP and contribute data to three specific databases: the Regional File of Clients and Bank Accounts (FRCB), the Payment Incidents File (FIP), and the Irregular Payment Instruments File (FIPI). It establishes strict timelines for data declaration, defines the unique banking identifier (IBU) system, and outlines comprehensive data protection rights for clients, including access, rectification, and erasure of personal information.
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