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Transfer of unclaimed assets: disagreements between Cobac and Cameroon

16/07/2024
Source : ORISHAS-FINANCE
Categories: Sectors

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Suite au transfert des avoirs en disinheritance (financial funds, bank accounts, financial securities, or other assets that are considered abandoned or without a known owner) a disagreement is intervened between the Central African Banking Commission (Cobac) and the Cameroonian authorities

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The Secretary General of Cobac requested, in a letter dated 11 July 2024, the financial institutions in the region to suspend the transfer of these funds to the Caisse des Deposits et Consignations du Cameroun (CDEC). This disagreement highlights the challenges of coordinating national policies and regional financial regulations within CEMAC. It remains to be seen how Cameroon and Cobac will manage to resolve this discrepancy in the interests of the region's financial stability

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