The approval number of the exchange office is mentioned in all its correspondence and appears on its sign.
The exchange offices carry out purchases and sales of foreign currencies with customers in accordance with the exchange regulations in the CEMAC. They sell the currencies purchased from customers to credit institutions in Cameroon.
The currency exchange offices in Cameroon record each transaction with customers on a slip in duplicate. One copy is issued to the clients and the other is kept by the exchange office, with an attached copy of the client’s identity document and all supporting documents for the transaction.
The exchange slips are numbered and follow each other in chronological order. They shall indicate in particular the identity of the client, the reason for the transaction, the currency concerned, the amounts exchanged, the rates and commissions applied by the exchange office.
Currency exchange offices shall have an accounting organisation and written operating rules to ensure that their activities are carried out in compliance with CEMAC exchange regulations.
The accounting organisation and written operating rules are adapted to the size of the exchange office and the nature of its clientele. The accounting standard used by exchange offices is specified in a circular letter from the Central Bank.
The currency exchange offices in Cameroon shall keep a register of transactions in which they shall record, at the end of each day, the information contained in the exchange slips.
The register of transactions may be kept in dematerialised form provided that the exchange office uses an information system that guarantees the security and reliability of the data.
The currency exchange offices in Cameroon shall keep, in accordance with the legal provisions in force, all information and supporting documents relating to their operations. They shall keep at the disposal of the BEAC and COBAC all their accounting records and operating documents.