(Business in Cameroon) - According to Abbas Mahamat Tolli, Governor of the central bank of the six CEMAC states, furthermore President of the Central African Banking Commission (Commission Bancaire de l’Afrique Centrale - COBAC), the envelope of irrecoverable debts in this  Community area represents 15 to 17% of the overall volume of loans granted by the banks. The President of COBAC made this disclosure during the Justice-Bank forum that took place last 19 July in Ndjamena, the Chadian capital.

This meeting between judicial authorities, leaders of banks, microfinance institutions and regulatory authorities in the financial sector, aimed above all to "explain to the different magistrates the primacy of specific banking law over community legislation", confided Abbas Mahamat Tolli to the government journal.

"90% of litigation in the business world is linked to debt collection. Banks grant loans and receive cover of securities. When there is a default, there are legal complications which limit these credit establishments from realising these guarantees", points out the President of COBAC.

BRM