banner1
banner2
Banner3
Banner 4
 
News:
Congo
Select another country

The Bank of Central African States (French: Banque des Etats de l'Afrique Centrale, BEAC) is a central bank that serves six central African countries which form the Economic and Monetary Community of Central Africa: Cameroon, Central African Republic, Chad, Equatorial Guinea, Gabon, Republic of the Congo. The current governor of Gabon, Ali Bongo, was appointed in October 2009 in response to a bank scandal in which US$28.3 million went missing from the bank's Paris branch.

Congo Banks

Among the commercial banks are the Congolese Union of Banks, the International Bank of Congo, and the Congolese Commercial Bank. The state is the major shareholder in the two commercial banks. The National Development Bank of the Congo extends loans for economic development. The Congo has a 13% share in UDEAC's development bank, headquartered in Brazzaville.

Other commercial banks in the Republic of the Congo include: Afriland First Bank, Alios Congo, Banque Cofipa, BGFI Bank, Caisse Congolaise d'Amortissement (CCA), CCEI Bank, Crédit Lyonnais, Credit Maouene, Dtion Gle du Tresorm – Recettes des Douane, Ecobank, Federation de Mucodec, Financière du Congo, Fonds de Dépôts et de Garanties, La Congolaise de Banque (LCB), Secu Sante, Sikar Finances SA and Trésor Public

Currency

Congo’s official currency is the Central African CFA franc (symbol: franc, Code: XAF), which is the currency of the six independent states of the BEAC. It is issued by BEAC, located in Cameroon, for the members of the CEMAC (Communauté Économique et Monétaire de l'Afrique Centrale, "Economic and Monetary Community of Central Africa"). The franc is nominally subdivided into 100 centimes but no centime denomination has been issued. The circulated banknotes are 10,000, 5,000, 2,000, 1,000 and 500 francs domination. The CFA franc per US$ rate is 534 (2010). Congo’s inflation rate is 4% (2009).


Back to top>