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Faced with DSX lack of dynamism, the regulatory body of the Cameroonian financial market lives on life support from the State

Faced with DSX lack of dynamism, the regulatory body of the Cameroonian financial market lives on life support from the State
  • Comments   -   Sunday, 26 February 2017 02:53

(Business in Cameroon) - The Financial Markets Commission (CMF), regulatory organisation in the Douala Stock Exchange (Dsx), the Cameroonian financial market, just adopted a budget of FCfa 1.5 billion. While this regulatory body could cover this budget with its own funds, particularly with contributions from market activities, 80% of the sum will come from the State’s coffers, we learned from reliable sources.

Indeed, the low volume of activity on the Cameroonian financial market does not allow for independent financial operation of its different bodies. In order to revert this trend, we learned during the 83rd CMF session recently held in Douala, the regulatory body is planning to implement some reforms within Dsx as soon as possible.

This is the case in particular for drawing up provisions enabling Collective Investment in Transferable Securities (UCITS – OCVPM in French) to operate, whose approval to work in the Cameroonian financial market was enacted by a law adopted in June 2016 in Parliament.

According to Jean Claude Ngbwa, CMF President, the effective entry of UCITS in the Cameroonian financial market “will open the door to more popular investments”.

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