It is prohibited for any entity other than a currency exchange office governed by exchange regulations in Cameroon and CEMAC to use a name, a company name, an advertisement, any written document or, in general, expressions suggesting that it is approved as such or to create confusion on this subject.
Exchange offices in Cameroon are prohibited from carrying out any activity other than manual exchange, unless authorised by the competent authority for related activities.
Any person appointed to replace a manager or director of a currency exchange office and who has not yet received prior authorisation from BEAC may not bind the currency exchange office by his signature, under penalty of sanctions provided for by the regulations in force.
The exchange office concerned is also liable to any other sanction provided for by the regulations in force.
Any person working in the banking sector or any person holding high political, elective or similar positions likely to compromise the exercise of freedom of judgement or conferring immunity from jurisdiction may not exercise the functions of member of board of directors or manager for an exchange office in Cameroon.