(Agence Ecofin) – A new secretary general of the Central African Banking Commission (Cobac) should be appointed at the next CEMAC Summit. He will replace Cameroonian Halilou Yerima Boubakary, who has been in post since 2015.
The next summit of heads of state of Cemac (Economic and Monetary Community of Central Africa), which includes Cameroon, Congo, Gabon, Chad, CAR and Equatorial Guinea, will have to devote the appointment of a new secretary general of the Central African Banking Commission (Cobac), the regulator of the banking sector in the Cemac area.
In the press release which sanctioned the last meeting of its ministerial committee, held on July 3, 2020, the Central African Monetary Union (Umac) indeed reveals that it is preparing to propose to the heads of state of Cemac , “The nomination files for a general secretary and the assistant general secretary” of Cobac.
The expected new SG will thus replace the Cameroonian Halilou Yerima Boubakary, appointed to this position since 2015. During his mandate, this former member of the Cameroonian government led or initiated major reforms within the regulatory body of the banking sector.
Among these reforms, we can cite the current definition of prudential standards applicable to payment institutions with regard to the issuance of electronic money. This text aims to adjust to the meteoric rise of mobile money in the Cemac countries. We can also mention the new legal framework governing microfinance activity in the Cemac area, which was previously characterized by chaotic management, to say the least, given the number of establishments that have closed in recent years due to managerial deviations.