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Bank of Central African States
(redirected from Beac)

   Also found in: Acronyms, Wikipedia 0.01 sec.
Bank of Central African States
The central bank of the Economic and Monetary Community of Central Africa. It issues the Central African CFA franc, which circulates in Cameroon, the Central African Republic, Chad, Equatorial Guinea, Gabon, and the Republic of the Congo.


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Last month Gabon recalled the governor of the BEAC over the embezzlement allegations, and the Jeune Afrique weekly said Oyiba could have received as much as 65.
The Cameroon based BEAC issues the currency for Cameroon, Central African Republic, Chad, Congo (Brazzaville) and Gabon.
In order to do this, the three CFA zone central banks, namely the BCEAO, BEAC and BCC, intervene on the international money market to buy back the CFA when its supply is more than the demand.
 
 
 
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