Bank of Central African States

The Bank of Central African States is the supranational central bank of the Economic and Monetary Community of Central Africa, serving Cameroon, the Central African Republic, Chad, Equatorial Guinea (which joined in 1985), Gabon, and the Republic of the Congo. Established in 1972 as successor to an earlier colonial-era issuing bank, it moved its principal operations from Paris to Yaounde, Cameroon between 1973 and 1977. The bank issues the Central African CFA franc, whose convertibility is guaranteed by the French Treasury, sets monetary policy for the six-country union through its Monetary Policy Committee, and oversees banking supervision through the Central African Banking Commission it established in 1993.