The Central Bank of West African States (BCEAO) was formed on 14 November 1962. It is the central bank for eight West African countries: Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal, and Togo. The BCEAO is responsible for issuing the common currency, the West African CFA franc, and for managing the monetary policy of the member countries.
Option A is incorrect because the BCEAO was formed in 1962, not 1964.
Option B is incorrect because the BCEAO was formed in 1962, not 1963.
Option C is incorrect because the BCEAO was formed in 1962, not 1962.
Option D is incorrect because the BCEAO was formed in 1962, not 1965.
The BCEAO is headquartered in Dakar, Senegal. It is governed by a Board of Governors, which is composed of one governor from each member country. The Board of Governors is responsible for setting the monetary policy of the BCEAO.
The BCEAO is also responsible for supervising the commercial banks in the member countries. It does this through its Banking Commission, which is composed of representatives from the BCEAO and the member countries.
The BCEAO is an important institution for the West African economy. It helps to promote economic growth and stability in the region.