Regulatory Alerts2016-10-01
Code of Conduct on the Operation of Payment Systems
The CEMAC Regional Payment Systems Surveillance Committee issued this Code of Conduct to define the rights and obligations of the Bank of Central African States (BEAC) and its member institutions regarding the efficient operation of endogenous payment systems. The document mandates BEAC to ensure system continuity, transparency, and robust financial protection mechanisms while requiring members to maintain secure technical platforms, adhere to CORENOFI standards, and prioritize the regional financial community's interests through liquidity solidarity. It establishes clear governance structures, dispute resolution via ad hoc arbitration (except for BEAC), and enforceable sanctions for non-compliance to safeguard financial stability across the CEMAC monetary zone.