Ordinary Session of the Equatorial Guinea National Credit Council

The Republic of Equatorial Guinea National Credit Council met on 13th July, in the meeting room at the Bank of Central African States in Malabo II, at a meeting overseen by the Minister for Finance, the Economy and Planning, Cesar Augusto Mba Aboga, accompanied by the BEAC Governor, Abbas Mahamat Tolli.

The Second Deputy to the BEAC national Director, Jaime Edu Andomo Obono, presented the points on the agenda. After approving the minutes from the meeting of 7th February,the National Credit Council presented the state of progress regarding recommendations from the last session.

In that section, a report was presented from the technical commission created to promote the private sector and propose specific measures of support. Furthermore, the National Credit Council dealt with the decision to review the ministerial order regulating the rapid transfer of money.

Equally, the National Credit Council was told of the evolution in activities by the professional Association of Credit Institutions in Equatorial Guinea (APEC-GE), presented by the representative of the association, Agapito Nguema Ona Mba, Deputy Director General of the SGBGE, who detailed the application of the new regulations for exchange, in force since 1st march 2019, and its impact on banking activities.

The council followed closely the presentation of the report on the banking environment in Equatorial Guinea on 31st December 2018.

In the any other business section, the council was informed about regulation number Bank of Central African States, on the conditions of exercising control over the offices of information on credit in CEMAC, from 21st December 2018.

Source: Equatorial Guinea Press and Information Office

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