BEAC (Bank of Central African States) has published for the attention of the Banking Entities of the CEMAC (Economic and Monetary Community of Central Africa) Circular No. 004/GR/2022, which specifies the conditions and modalities of use of electronic means of payment outside the CEMAC zone.
On November 23, 2021, at the meeting held in the city of DoubleaRepublic of Cameroonreferring to the Regulations for the change of the CEMAC which will be mandatory as of January 1 of next year 2022, banks established in national territory are empowered to operate with foreign currency. These regulations seek to strengthen the banking system in the subregion, improve the coverage rate, and help member states strengthen fiscal control over operators.
To comply with the new circular of the BEAC Regarding electronic payments outside the CEMAC zone, customers or users must follow the following instructions to avoid the suspension of their card:
- The carrier of the card must be the account holder .
- All operations outside the area CEMAC must be justified, therefore, contact your agency and/or manager providing the following documents:
Before the trip:
- Copy of your passport.
- Copy of the paid ticket.
- Card, attestation or proof of enrollment (for students)
- Copy of mission order (for mission travel cases)
- Any other document provided to the client depending on the nature of the operations and the reason for the trip.
When you return from your trip:
- Copy of passport with entry and exit stamps.
- Invoices or proof of operations carried out outside the area CEMAC, that exceed the authorized limit per person and/or trip XAF 5,000,000 (five million).
The lack or non-compliance with the previously mentioned requirements, before or after your trip, outside the zone CEMAC will mean the suspension of your electronic payment method.
For more information, check with your card-issuing bank.