It establishes the legal framework that supports the establishment of this institution in our country and gives it the freedom to carry out its tasks.
The Headquarters Agreement between the Central African Banking Commission (COBAC) and the Gabonese government was signed Thursday at the Ministry of Foreign Affairs, La Francophonie and Regional Integration by Minister of State Pacôme Moubelet Boubeya , Representing the Gabonese side, and the Resident Representative of this subregional institution, Haliliou Yerima Boubakary.
The agreement is in the form of a set of 18 articles divided into five headings preceded by a preamble. Title 1 refers to the provisions relating to the functioning of COBAC, Title 2 deals with the assets assigned to the functioning of the institution, Title 3 relates to the provisions inherent in persons. Finally, Title 4 refers to the various and final provisions.
Established in 1990 when the six CEMAC countries signed the agreement establishing it, COBAC is responsible for ensuring the stability of the subregional financial system. More concretely, its mission is the prudential regulation of the financial system in its area of influence.