Regulatory Alerts2016-10-01
Instruction No. 001/GR/2018 on the Scope of Interoperability and Interbanking of Monetary Payment Systems in CEMAC
The Central Bank of the Central African States (BEAC) issued Instruction No. 001/GR/2018 to define the scope of interoperability and interbanking for monetary payment systems within CEMAC. The regulation mandates that all electronic, non-electronic, and mobile payment platforms operating in the region achieve mutual compatibility and clear transactions in CFA francs by 1 December 2018. It further establishes strict monthly reporting obligations, compliance deadlines of 31 March 2019 for existing systems, and a tiered penalty framework for issuers and managers failing to meet these interoperability standards.
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