Regulatory Alerts2020-04-24
Regulation No 02/18/CEMAC/CAMU/CM on Foreign Exchange Regulation in CEMAC
The CEMAC Ministerial Committee, acting on the BEAC Governor's proposal, has adopted Regulation No 02/18 to establish comprehensive rules governing foreign exchange operations across its member states. The regulation mandates that all current and capital transactions comply with established procedures, grants freedom to capital movements, and fixes the CFA Franc's parity at 0.001524 euros while defining the supervisory roles of BEAC, COBAC, and national ministries. It outlines reporting obligations, control mechanisms, and administrative penalties for non-compliance, ensuring that approved intermediaries and economic agents maintain external balance through transparent currency conversions and transaction declarations.
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