Regulation
Regulation on foreign exchange in CEMAC
Summary
This regulation, signed in Yaoundé on 21 December 2018 and in force since 1 March 2019, sets the rules for foreign exchange transactions and capital movements between CEMAC and the rest of the world. It repeals regulation no. 02/00/CEMAC/UMAC/CM of 29 April 2000. It gives the Bank of Central African States (BEAC) responsibility for managing foreign exchange reserves and governs the role of banks as authorised intermediaries for transfers. It organises bank domiciliation of imports and exports, the obligation to repatriate and surrender export proceeds, supporting documents for current transfers, the regime for foreign direct investment and external borrowing, foreign currency accounts and bureaux de change. It provides penalties for breaches. For a business in Gabon, it shapes payments to foreign suppliers, repatriation of dividends and foreign currency cash management.
Official documents
Copies hosted by Gabon Eco, as published by their publisher.
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Regulation No. 02/18/CEMAC/UMAC/CM on foreign exchange regulation in CEMAC
