Regulatory Alerts2016-10-01
Instruction No. 01/GR/2014 on the Supervision of Payment Systems in the CEMAC
The Bank of Central African States (BEAC) has issued Instruction No. 01/GR/2014 to establish a comprehensive supervisory framework for monitoring both endogenous and exogenous payment systems within the CEMAC region. The directive creates the Regional Payment System Supervision Committee (CRSP) and a Technical Committee to define oversight standards, conduct off-site and on-site inspections, and enforce compliance with legal, technical, financial, and operational requirements. It further mandates regular reporting, outlines procedures for addressing deficiencies through recommendations and gubernatorial injunctions, and specifies disciplinary sanctions and budgetary financing mechanisms for the supervisory activities.
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