Bank Of Central African States

The central bank serving the Economic and Monetary Community of Central Africa (CEMAC). CEMAC consists of six countries, Cameroon, the Central African Republic, Chad, Equatorial Guinea, Gabon and the Republic of the Congo, and it is a member of the larger African Economic Community.

BEAC's responsibilities as a central bank include overseeing the monetary system and issuing currency. BEAC's official currency is the Central African CFA franc, which had an exchange rate that was formerly fixed to the French franc but is now fixed to the euro.

Established in 1972, the bank's official name is Banque des Etats de l'Afrique Centrale (BEAC). In late 2010, Lucas Abaga Nchama of Equatorial Guinea became the bank's new leader, after a 2009 embezzlement scandal that cost the bank $28 million and lost Philibert Andzembe of Gabon his position as head of the bank.

Investment dictionary. . 2012.

Look at other dictionaries:

  • Bank of Central African States — Banque des États de l Afrique Centrale (BEAC) (French) Headquarters Yaoundé, Cameroon Established 1972 President Lucas Abaga Nchama[1] Central bank of …   Wikipedia

  • Central Bank of West African States — Infobox Central bank bank name in local = Banque Centrale des États de l Afrique de l Ouest (BCEAO) fr icon image 1 = image title 1 = image 2 = image title 2 = headquarters = Dakar, Senegal established = 1961 president = Charles Konan Banny bank… …   Wikipedia

  • Economic Community of Central African States — Comunidade Económica dos Estados da África Central Communauté économique des États de l Afrique Centrale Economic Community of Central African States …   Wikipedia

  • Central African CFA Franc - XAF — The currency of six independent states in central Africa. The Central African CFA franc uses both coins and banknotes, and is subdivided into centimes. The currency is regulated by the Bank of Central African States. Members include Cameroon,… …   Investment dictionary

  • Central African CFA franc — Infobox Currency currency name in local = franc CFA BEAC fr icon image 1 = CFA.jpg image title 1 = 1000 Central African CFA francs image 2 = Africa countries CEMAC.png image title 2 = Member countries image 3 = Africacoins.png iso code = XAF… …   Wikipedia

  • Central African Republic — a republic in central Africa: a member of the French Community. 3,342,051; 238,000 sq. mi. (616,420 sq. km). Cap.: Bangui. Formerly, Central African Empire, Ubangi Shari. * * * Central African Republic Introduction Central African Republic… …   Universalium

  • Central African Republic — Not to be confused with Central Africa, British Central Africa, or Federation of Rhodesia and Nyasaland. Central African Republic République centrafricaine Ködörösêse tî Bêafrîka …   Wikipedia

  • Central African Federation — Flagge der Föderation Die Föderation von Rhodesien und Njassaland (auch Zentralafrikanische Föderation, Zentralafrikanischer Bund) war ein semi unabhängiger Staat im südlichen Afrika, der von 1953 bis Ende 1963 existierte. Er umfasste die… …   Deutsch Wikipedia

  • Outline of the Central African Republic — …   Wikipedia

  • Foreign relations of the Central African Republic — President François Bozizé says that one of his priorities is to get the support of the international community” [ art.php?numart=7053 categorie=articles – François Bozizé se confie au Messager, June 21,… …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.