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15TH ANNUAL MEETING OF COMMITTEE OF BANKING SUPERVISORS OF WEST AND CENTRAL AFRICA

Thursday, 26 January 2012 - 24333 Visits

The Bank of Central African States (BEAC) hosted the 15th Annual Meeting of the Committee of Bank Supervisors in West and Central Africa (CBSWCA) in Yaoundé.

The 15th Annual Meeting of the Committee of Bank Supervisors in West and Central Africa (CBSWCA) took place in Yaounde, headquarters of the Bank of Central African States (BEAC), on 5 and 6 August 2010.

Taking part in the Meeting were delegates in charge of banking supervision within the following institutions:

-       Bank of Ghana,

-       Central Bank of the Republic of Guinea,

-       Central Bank of Congo,

-       Central Bank of The Gambia,

-       Central Bank of Sudan,

-       West African Monetary Union Banking Commission,

-       Central African Banking Commission (COBAC),

-       West African Monetary Institute, as observer.

 The opening ceremony, presided at by Mr. Lucas ABAGA NCHAMA, Governor of BEAC and Chair of COBAC, was marked by two addresses.

In his keynote address, Mr. IDRISS AHMED IDRISS, Secretary General of COBAC, gave a brief overview of CBSWCA, highlighting the fact that CBSWCA was created in April 1996 with the main objectives of providing a forum for consultation and cooperation between its members on banking supervision issues. Its activities centred mostly on training supervisors from member countries, harmonising supervision rules and practices, contributing to international standardisation through the Basel Committee on Banking Control and holding regular annual meetings.

The Chair of COBAC and Governor of BEAC, Mr. Lucas ABAGA NCHAMA then took over to solemnly welcome all the delegations to Yaounde and to open deliberations. He seized the opportunity to dwell on the recent financial crisis that is at the backdrop of the deliberations of this Annual Meeting. It emerged that this crisis stems from a combination of factors, among which is the inadequacy of the banking supervision system and insufficient equity capital to absorb losses. International mobilisation led to a good number of measures enabling to consider in the very short run to enhance the solidity of the various banking and financial systems with, the additional incentive, of improving the quality of supervision and regulation in this sector.

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