Regulatory Alerts2018-12-21
Added · Updated
Regulation N° 04/18/CEMAC/UMAC/COBAC of 21 December 2018 on Payment Services in the Economic and Monetary Community of Central Africa
This regulation establishes the conditions for exercising and supervising payment services within the CEMAC, defining payment service providers as credit institutions, microfinance institutions, and authorized payment institutions. It prohibits payment institutions from collecting deposits, granting credit beyond specific deferred debit limits capped at 100,000 CFA francs, or paying interest on electronic money. The Central Bank sets technical and functional standards for payment solutions and oversees system security, while the Banking Commission handles prudential supervision, authorization, and disciplinary measures.