Bank of Central African States

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Bank of Central African States
Banque des États de l'Afrique Centrale (BEAC) (French)
Headquarters Yaoundé, Cameroon
Established 1972
President Lucas Abaga Nchama[1]
Central bank of Economic and Monetary Community of Central Africa
Currency Central African CFA franc
XAF (ISO 4217)
Preceded by Banque Centrale des Etats de l'Afrique Equatoriale et du Cameroun
Website www.beac.int
BEAC is the central bank of the states in red.

The Bank of Central African States (French: Banque des États de l'Afrique Centrale, BEAC) is a central bank that serves six central African countries which form the Economic and Monetary Community of Central Africa:

Philibert Andzembe of Gabon was Governor of the BEAC from July 2007 until October 2009, when he was fired by the new president of Gabon, Ali Bongo, in response to a bank scandal in which $28.3 million went missing from the bank's Paris branch. Jean Félix Mamalepot, also from Gabon, was Governor for preceding 17 years.[2]

In December 2010, a WikiLeaks memo dated July 7, 2009, said that Gabonese officials working for the Bank of Central African States stole US$36 million over a period of five years from the pooled reserves, giving much of the money to members of France’s two main political parties.[3]

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