Cameroon is currently moving to introduce a banking card exclusively dedicated to its civil servants. In the framework of the project, in the first half of 2021, the Ministry of Finance notified GIMAC, CEMAC’s regional switch.
The introduction of the card falls within the framework of linking the national treasury to the regional switch, we learn. According to the Ministry of Finance, the banking cards linked to virtual accounts will be issued by Cameroon’s public treasury for civil servants (both active and retired).
The cards, loaded by the public treasury, will allow holders to make online payments or withdraw cash from ATMs in the CEMAC Zone that are affiliated to GIMAC, a body of the central bank BEAC.
When the card is loaded, the public treasury is not automatically debited. It is debited only when the holder withdraws cash from an ATM or makes an online purchase. The Ministry of Finance explains that for a start, the online operations that can be done are currently limited to those related to operating expenses namely transportation costs, mission allowances, allowances to committee members and working groups, purchase of airplane tickets, changeover costs, etc.
The project launching date has not been disclosed yet. During clearing operations at the central bank, GIMAC will act as an intermediary between Cameroon’s public treasury and banks that own ATMs installed all over CEMAC.