Regulatory Alerts2011-11-10
COBAC Instruction I-2009/02 on the Prior Information Procedure for Appointing Board Members of Credit Institutions
The Central African Banking Commission (COBAC) issued Instruction I-2009/02 to formalize the prior information procedure for appointing board members of credit institutions within the Economic and Monetary Community of Central Africa (CEMAC). The directive requires candidates to submit a criminal record extract issued within three months, a signed curriculum vitae, and a sworn declaration using prescribed models. It further mandates immediate notification of any material changes to the provided information and entered into force upon signature on 25 September 2009.
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