(Business in Cameroon) - A decision of the Minister of Finance, Alamine Ousmane Mey, signed recently placed the Commercial Bank of Cameroon (CBC) on restructuration on the recommendation of the provisional administrator, appointed in November 2009, reads the first article of the decision.

It adds that the restructuration of CBC will be executed in conformity to the plan the shareholders of the bank voted on May 10, 2012, at an extraordinary general assembly.

According to article 4, the deadline of the putting in place of the plan is three months counting from the date of publication of the decision – January 28, 2013.

To accompany the bank, government has exonerated the institution from some fiscal obligations, the decision states further.

However, it is difficult to say exactly what the plan looks like as article 5 says that, “taking into consideration banking secrecy details of the restructuration plan cannot be published.”

But, the Central African Banking Commission (COBAC), Bank of Central African States and a judge could have access to the plan, continues the article.

This is an attempt to bring CBC to its normal state of business, concludes the decision.

JV