The eTransfer is now a business of the Bank of Central African States (BEAC)! This banking institution in the sub-region has validated this new application used in banks and public treasuries. It will be in use from September 1, 2020.
“The Bank of Central African States (BEAC) announces that only the eTransfer application will be authorized throughout the Central African Economic and Monetary Community. Electronic messaging is therefore no longer appropriate.
The implementation of this application according to the Central Bank aims to reduce the processing times of files, falls within the framework of the optimization of the dematerialization of the process for analyzing requests for transfers outside the zone initiated in 2018, characterized by the transmission of data and the communication of spells in electronic format by messaging.”
According to the Governor of the BEAC Abbas Mahamat Tolli, the eTransfer, accessible to all actors, gives the possibility to banks and public treasuries of the Economic and Monetary Community of Central Africa (CEMAC) to submit all requests, from their sites.
This is a big step, given that “eTransfer makes it possible to ensure the traceability and availability of real-time monitoring information for banks, public treasuries as well as other economic agents initiating cases. This application also provides access to various reporting states,” Tolli said.
“According to the BEAC, this application in its current form is the first phase of a larger worksite to automate the monitoring of foreign exchange regulations, while other modules will be docked as they are development”.
