The code of conduct is a reciprocal document signed between a Credit Information Office in Cameroon and the users or suppliers of data, which formalizes the principles and standards of behavior relating to the conduct of the activities and operations of the Credit Information Office, their suppliers and users, intended for the proper application of the provisions of Regulation No. 03/18/CEMAC/UMAC/CM.
The code of conduct must contain, at a minimum, the following information, written clearly and precisely:
- The purpose of the code of conduct
- Its scope
- The activities of the Credit Information Bureau (CIB) as prescribed by regulations and defined in its accreditation
- Clauses relating to compliance with applicable regulations, confidentiality, ethics, integrity, and responsibility
- Clauses relating to the communication, access, and management of credit information collected, processed, and disseminated by the CIB
- Mechanisms for managing disputes and other situations, etc.
The draft code of conduct, prepared by the Credit Information Office, is submitted to BEAC for approval as part of the licensing application.
Any amendment to the code of conduct must be approved by the Central Bank.
The application for approval of the amended code of conduct is addressed to the Governor of the Central Bank and submitted, with a receipt, in duplicate to the BEAC National Directorate of the country where the Credit Information Bureau head office is located.
It must be accompanied by the draft amended code of conduct and a copy of the Credit Information Office licensing.
The BEAC reviews the draft amended code of conduct within forty-five (45) days of receiving the complete application. To this end, it verifies the conformity of the draft amended code of conduct with the provisions of Regulation No. 03/18/CEMAC/UMAC/CM and this Instruction.
The BEAC can only approve the Code of Conduct if:
- It contains the minimum information stipulated in Article 3 of the Law;
- Its clauses comply with current regulations;
- In the event of a modification, the document has been subject to consultation between the Credit Information Bureau, its suppliers and users.