Cameroon today is a member state of the Bank of Central African States (BEAC) and also a member of the Central African Economic and Monetary Community (CEMAC). These two bodies constitute part of the Franc zone. Franc zone means those African States whose monetary policy is being directed by France especially in the domain of exchange rate with respect to currencies of other countries, convertibility to other currencies, centralisation of international exchange reserves and harmonisation of regulations.
In Cameroon, banking regulations are aimed at attaining the following goals; prudential, systematic risk reduction, avoid misuse of banks, confidentiality and credit allocation. These objectives are aimed at enforcing market discipline.
The major instruments regulating banks in Cameroon are as follows;
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