Yaoundé - 30 September 2020 -

CEMAC: BEAC announces the launch of eTransfert to speed up the processing of wire transfer requests

CEMAC: BEAC announces the launch of eTransfert to speed up the processing of wire transfer requests
  • Comments   -   Thursday, 13 August 2020 15:48

(Business in Cameroon) - The Bank of Central African States (BEAC), the central bank of CEMAC countries, announces that on September 1, 2020, it will officially launch eTransfert, an application aimed at speeding the processing of wire transfer requests issued by economic actors.

This was announced in a circular signed on August 6, 2020, by Abbas Mahamat Tolli (photo), Governor of the BEAC. The circular also informs that a test period, launched in February 2020, has proved satisfactory. It adds that starting from the official launching date, the wire transfer requests will no longer be processed via electronic mails but exclusively via the application.

According to the BEAC, the launch of eTransfert falls within the framework of optimization of international wire transfer dematerialization process in the CEMAC region. Indeed, it explains, via this application, banks, economic actors and public treasuries can submit their wire transfer requests to the central bank for processing.

This application also "ensures the traceability and availability of monitoring information in real-time," and offers users the opportunity to access live reports.  

 "This application, in its current form, is the first phase of a broader project to automate the monitoring of exchange regulations" in force in the CEMAC Zone, the Governor of the BEAC says.

Brice R. Mbodiam

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