Regulatory Alerts1992-01-17
COBAC Regulation R-93/12 on Activities Other Than Those in Articles 4 to 7 of the 1992 Convention Annex
The Central African Banking Commission (COBAC) issued Regulation R-93/12 to authorize credit institutions in Central Africa to conduct non-core activities, including agency services, real estate management, and ancillary or extended banking services. These permitted activities must remain compatible with banking standards, preserve institutional reputation, protect depositors, and be recorded in specific accounting categories. Furthermore, the regulation caps annual revenue from these activities at 10% of net banking income and mandates a temporary exemption procedure for institutions unable to meet this threshold by 1 January 1994.
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