CEMAC - Regulation No. 01/02/CEMAC/UMAC/COBAC - On the Regulation of Micro Finance


The CEMAC's Regulation No. 01/02 establishes a regulatory framework for the micro finance industry in its member states. The document categorizes MF institutions into three categories: In the first category, establishments collect the savings of their members, which they employ in credit transactions exclusively for the benefit of the latter. In a second category, institutions collect public savings and grant credits to third parties, and in the third category, establishments which grant credits to third parties, without carrying on the activity of collecting savings. The regulation is divided into several chapters, and sets forth provisions on the following topics:

1. Authorized Operations and Services
2. Organization
3. Approval, Pre-Authorization, Declaration and Prohibitions
4. Regulatory Standards
5. Sanctions
6. Provisional administration
7. Liquidation

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Saturday, April 13, 2002
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