When was Bank of Central African States formed?

The correct answer is: A. 1974

The Bank of Central African States (BEAC) is the central bank of the six member states of the Central African Economic and Monetary Community (CEMAC): Cameroon, Central African Republic, Chad, Congo, Equatorial Guinea, and Gabon. It was established on 1 January 1974 by the Treaty of Brazzaville, which was signed on 20 December 1973.

The BEAC’s main objectives are to:

• Maintain monetary stability in the CEMAC region;
• Promote economic development in the CEMAC region;
• Supervise and regulate the banking system in the CEMAC region;
• Issue the common currency of the CEMAC region, the Central African CFA franc.

The BEAC is governed by a Board of Directors, which is composed of representatives of the six member states. The Board of Directors is responsible for setting the BEAC’s policies and overseeing its operations.

The BEAC is headquartered in Yaoundé, Cameroon.