Includes how foreign exchange is managed and implications for U.S. business.
Last Published: 7/18/2017

BEAC, the central bank, requires banks to record and report the identity of customers engaging in large transactions. Additionally, financial institutions must maintain records of large transactions for five years. CEMAC regulations do not stipulate a threshold amount for transactions to be reported. For any wire transfer in excess of $2,000 for an individual and $20,000 for a corporation, a special authorization must be filed with the DGMC (Direction Générale de la Monaie et du Crédit).
 

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