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Yaoundé - 26 February 2020 -
Finance

CEMAC : COBAC and credit institutions agree on guaranteed minimum services

CEMAC : COBAC and credit institutions agree on guaranteed minimum services
  • Comments   -   Friday, 14 February 2020 14:17

(Business in Cameroon) - At the end of a consultation held in Libreville, Gabon, on Feb 13, the Central African Banking Commission (COBAC) and banks operating in the CEMAC region agreed on a list of free banking products and services. This was revealed by COBAC in an official release that does not mention the process and services concerned.

These guaranteed minimum services were suggested in a study on the impact of free banking services on the net banking income of credit institutions. The study was commissioned by COBAC, in February 2019, from the associations of credit institutions professionals in the CEMAC region.

As requested by the professionals, these guaranteed banking services and products take into account the current economic situation in the sub-region and the investments made by credit institutions in the framework of the digitalization of services, which require a return on investment.

BRM

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