BANKING AND NON-BANKING COMPARTMENTS
This is in line with COBAC Regulation R-2018/06 determining the composition of the banking and non-banking compartments of the assets of credit and Microfinance institutions
Banking and Finance Blogs
The banking and finance practice blog is aimed at providing all aspects touching on the activities of banks, microfinance and credit institutions, financial institutions and payment service companies in Cameroon.
This material provided by the blog will be based on instructions, circulars and regulations as established by the Ministry of Finance in Cameroon, the Bank of Central African States, the Central African Banking Commission and the National Credit Council.
Finance practice in Cameroon is quite diverse and detailed, and the plethora of instructions, regulations and circulars from the regulatory bodies involved is illustrative of this fact.
With the continuous interest of businessmen and clients wishing to invest in this sector in Cameroon, it is important to understand the structure under which a financial institution or company can be created.
With the increase in terrorism and capital flight in the world today, the finance sector of Cameroon is very much regulated in terms of the institution, shareholders, operations, source of income, directors, audit, and clientele.
The aspect of transparency cannot be over-emphasized as the best practice for banks, microfinance institutions, payment services and finance companies dwell on transparency.
The various write-ups under this blog will cover aspects touching on;
- Banking law
- Microfinance law
- Credit institutions
- Payment service companies, and
- Financial institutions in general
Under the umbrella of MINFI, COBAC, BEAC and the National Credit Council in Cameroon.
ASSETS AND LIABILITIES (BANKING COMPARTMENTS)
This is in line with COBAC Regulation R-2018/06 determining the composition of the banking and non-banking compartments of the assets of credit and Microfinance institutions
APPROVAL OF SUBSIDIARIES OF A CREDIT INSTITUTION
This is in line with COBAC Regulation R-2018/04 laying down the procedures for obtaining approval as a credit institution by subsidiaries, opened under the single
LIABILITIES (NON-BANKING COMPARTMENTS)
This is in line with COBAC Regulation R-2018/06 determining the composition of the banking and non-banking compartments of the assets of credit and Microfinance institutions
ASSETS OF THE BANKING SUB-FUND
This is in line with COBAC Regulation R-2018/06 determining the composition of the banking and non-banking compartments of the assets of credit and Microfinance institutions
PROCEDURES FOR DECLARING AND PUBLISHING OVERALL EFFECTIVE RATES
Every credit institution is required to declare monthly to the Secretary General of the National Economic and Financial Committee of the country in which it
PENALTIES FOR NON-DECLARATION
METHODS FOR CALCULATING THE PENALTIES APPLICABLE TO INSTITUTIONS SUBJECT TO THE ACT IN THE EVENT OF FAILURE TO COMPLY WITH THE DEADLINES FOR DECLARING THE
MODALITIES FOR THE TRANSMISSION AND PUBLICATION OF BANKING CONDITIONS AND PRICES FOR FINANCIAL SERVICES
Every reporting institution is required to declare quarterly to the Secretary General of the National Economic and Finance Committee of its country of establishment, within
IMPOTANT DEFINITIONS IN LINE WITH THE BUSINESS CONTINUITY PLAN OF A CREDIT INSTITUTION IN CAMEROON
According to the COBAC Regulation R-2008/01 requiring credit institutions to prepare a business continuity plan in Cameroon and CEMAC, the following definitions are of utmost
PROVISIONS RELATING TO BANK CONDITIONS AND COST OF FINANCIAL SERVICES
The bank conditions constitute the set of tariff rules that the institutions subject to the law establish to regulate the operations with their customers, including