About Bank of Central African States
Created in 1972, the Bank of Central African States (BEAC) is the central bank common to the six States that make up the Economic and Monetary Community of Central Africa (CEMAC). These are respectively Cameroon, the Central African Republic, Congo, Gabon, Equatorial Guinea and Chad. The BEAC has the following missions:
- define and conduct CEMAC monetary policy;
- issue fiduciary money (banknotes and coins that are legal tender and legal tender in CEMAC);
- conduct the CEMAC exchange policy;
- hold and manage the official foreign exchange reserves of member states;
- promote the proper functioning of payment and settlement systems;
- promote financial stability… Continue reading about Bank of Central African States here.