CDEC Challenges CEMAC Banking Oversight, Reaffirms Appeal Before CEMAC Court

Cameroon's Deposit and Consignment Fund (CDEC) has renewed its opposition to a CEMAC regulation that places parts of its activities under the supervision of the Central African Banking Commission (COBAC), arguing that the measure is already the subject of an annulment case before the CEMAC Court of Justice. The public institution issued the statement in response to a July 15 article published by the state-owned newspaper Cameroon Tribune, which presented the regulation as setting new operating rules for deposit and consignment funds across the Central African Economic and Monetary Community (CEMAC). According to the newspaper, the regulation classifies some of…

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