Regulatory Alerts2009-12-16
COBAC Regulation R-2008/01 on the Obligation for Credit Institutions to Develop a Business Continuity Plan
The Central African Banking Commission (COBAC) issued Regulation R-2008/01 to mandate credit institutions operating within the CEMAC region to develop and implement comprehensive business continuity plans. The regulation establishes clear definitions, assigns governance responsibilities to deliberative and executive bodies, and requires institutions to conduct business impact analyses, define recovery objectives, and maintain alternative sites aligned with their risk profiles. It further mandates regular testing, independent audits, and the appointment of a dedicated Business Continuity Plan Manager to ensure systemic resilience against major operational disruptions.
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