MICRO-FINANCE INSTITUTIONS

These are institutions which carryout the activity of credit operations, collect savings from the public and offer other specific financial services to the benefit of the population in the line of traditional banking.

Such companies are compulsorily by law supposed to be registered in Cameroon as public limited liability companies because their operations are open to the public.

In Cameroon, these institutions are classified into three; category 1, category 2 and category 3. Each category has its specific registration requirements as per the monetary authority of CEMAC.

Micro-finance institutions in Cameroon are governed by the convention of 17th January 1992 on the harmonisation of banking regulation in the Central African States.

As a financial institution, the procedure for its creation, establishment and operation must be done in strict compliance with the finance regulation in force.