BankHeadOffice.com         Bank Head Office Worldwide   ♦ Loan Calculators ♦ Mortgage Guides ♦ Banking FAQs ♦ Banking Institutions ♦ Central Banks Worldwide       Home  »  Central Banks Worldwide  »  Bank of Central African States Bank of Central African States The Bank of Central African States (French: Banque des États de l'Afrique Centrale, BEAC) is a central bank that serves six central African countries as stated on the bottom of this page which form the Economic and Monetary Community of Central Africa (UMAC). UMAC is monetary cooperation convention between France and the six member states: Republic of Cameroon, Central African Republic, Congo Republic, Gabon, Equatorial Guinea and Republic of Chad. BEAC issues the currency of the monetary union and ensures stability of the currency. Without prejudice to this objective, it shall support general economic policies developed in the Union. Its objectives include the following:     define and direct the monetary policy of the Union;     issue banknotes and coins that are current and legal tender in EMU;     drive the exchange rate policy of the Union;     hold and manage the official foreign reserves of member states; and     promote the smooth operation of payment systems and settlement. Among its achievements, the BEAC has successfully implemented macro-economic convergence criteria and an effective surveillance mechanism. It has adopted a customs union and common external tariff and has combined indirect taxation regulations, in addition to initiating regional structural and sector policies.   BEAC Head Office HQ Address: 736 Avenue Monseigneur Vogt BP 1917 Yaounde Cameroon Telephone: +237 22 23 40 30 Facsimile: +237 22 23 33 29 Email: beac@beac.int Website: www.beac.int Currency: CFA franc Banking Hours: Monday - Friday : 7:30 am - 3:30 pm     In achieving the functions as mentioned above, BEAC commits itself to providing effective support functions through a sound banking and financial control system, appropriate information system and the development of competent and qualified staff. BEAC must be well managed and pursue a goal-oriented approach, as consistent as possible with international best practice.   Member States: Republic of Cameroon Equatorial Guinea Central African Republic Republic of Chad Congo Republic Gabon DISCLAIMER The content comes from Internet, reasonable efforts are made to maintain accuracy of information published. However, information could contain errors or inaccuracies and is presented without warranty and statutory means. No liability is assumed for errors or omissions. Viewers are advised to consult their banker or financial consultant for complete information and their professional advise. All trademarks, logos, brand names and copyrights are the property of their respective owners. © 2011 - 2022 BankHeadOffice.com ® All Rights Reserved