BEAC approves device governing delivered pension

The monetary policy Committee of BEAC comprised of six Member States of CEMAC (Cameroon, Gabon, Equatorial Guinea, Congo, CAR and Chad) approved December 18, 2014 in Douala, Cameroonian economic capital, 'the legal and regulatory device governing delivered pension', revealed a release having sanctioned the last CPM of the year 2014.

This regulatory scheme, will be soon submitted to the adoption of the Inter-departmental Committee on Monetary Union of Central Africa (UMAC), prior to the actual implementation of the technique of pension in the CEMAC zone.

This financing technique, characterized by an exchange of marketable securities against cash for a specified period, will allow them, according to the Governor of BEAC, Lucas Abaga Nchama to boost the interbank market in the CEMAC zone.

Indeed, said the Governor of BEAC at the end of the CPM on December 18, noted that the interbank market in the CEMAC zone is currently characterized by loans between banks belonging to the same group, loans between banks belonging to separate mother houses being almost nonexistent.

In order to remove these obstacles to the dynamization of the inter-bank market and, consequently, to boost the availability of funding for economic agents, BEAC wants to update on the next institution pension delivered technique to "encourage banks to take the risk of lending to other banks", which are not necessarily of the same group, said Lucas Abaga Nchama.

For recall, during the session of the BEAC monetary policy Committee, this Central Bank also approved regulations to govern the future market of marketable debt in the CEMAC zone.