Bank of Central African States (BEAC)

Abstract

The Bank of Central African States (Banque des Etats de l’Afrique Centrale) was established in 1973 when a new Convention of Monetary Co-operation with France was signed. The five original members, Cameroon, Central African Republic, Chad, Republic of the Congo and Gabon, were joined by Equatorial Guinea in 1985. Under its Convention and statutes, the BEAC is declared a ‘Multinational African institution in the management and control of which France participates in return for the guarantee she provides for its currency’.