Regulation on payment services in CEMAC

This regulation, signed in Yaoundé on 21 December 2018 and in force since 1 January 2019, governs payment services in CEMAC member states, including Gabon. It aims to protect funds and public confidence while supporting controlled financial inclusion. It defines payment services and the categories of institutions allowed to provide them, subject to licensing and supervision by the Central African Banking Commission (COBAC), taking into account OHADA law on commercial companies and cooperatives. It also covers electronic money, whose issuance and management are left to a separate text, and repeals the 2011 regulation on issuing electronic money. It concerns banks, microfinance institutions, payment institutions and telecom operators offering mobile payment.