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Cameroonian banks to benefit from 50%  levels of  minimum reserves drop by BEAC

Cameroon, the powerhouse of the  Cemac zone, will gain most from the decision taken on 6 April 2016 by BEAC, to drop by 50% the levels of the minimum reserves applicable to banks in this community of six countries: Cameroon, Congo, Gabon, Equatorial Guinea, Chad and the Central African Republic.

 

Indeed, out of the FCfa 500 to 600 in ready cash this decision from the central bank will release to commercial banks, over 20% will be taken in by banks established in Cameroon. According to Alphonse Nafack, MD of Afriland First Bank, who commented on this topic in the pro-government daily newspaper, about FCfa 200 billion in additional liquidity will be released to Cameroonian banks, if one takes into account the volume of minimum reserves available in the coffers of the central bank as at end 2015.

As a reminder, in order to compensate for the problem of the decrease in bank deposit in the Cemac zone, in a situation of generalised drop in export revenues, BEAC decided on 6 April to loosen the grip of the minimum reserves on the banks, to enable them to have more liquidity to finance the sub-regional economy.

(BIC)

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