The Bank of Central African States (, 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, and the Republic of the Congo.
History
Background
In 1920, the French government expanded the note-issuance privilege of the Banque de l'Afrique Occidentale to its central African colonies of Congo, Ubangi-Shari, Gabon, Chad, and later Cameroon. This arrangement was disrupted during World War II, as the colonies controlled by Free France became Free French Africa. The Caisse Centrale de la France Libre was established in London in December 1941 to manage the regional currency, and was renamed Caisse Centrale de la France d'Outre-Mer (CCFOM) in 1944.[3] The region's currency was standardized in late 1945 as the