(2002), Microfinance CEMAC/UMAC/UMAC Regulation, Cobac, April
More than a need, strict compliance with the regulations established by COBAC
are the best guarantee of the integrity and robustness of the CEMAC banking system; as financial stability and the capacity for recovery of the banking system in the sub-region are in play", pointed out Abbas Mahamat Tolli, during his opening speech.
The Government of Cameroon (GRC) should work with the Central Bank, COBAC
, and the ANIF to fully develop and implement applicable regulations to establish a complete anti-money laundering/counter-terrorist financing regime that adheres to international standards.
is also responsible for circulating to its financial institutions a list of individuals and entities on the UN 1267 Sanctions Committee's consolidated list, or other groups identified by the United States or the European Union.
In 2006, Amity Bank has been settled under provisional administration by COBAC
, after serious management failures.
Exclusive stakeholder of the bank, the State of Cameroon designated them at an extraordinary board last March 21st and then proposed their names to COBAC