August 27 2017
This last document is issued by the Ministry of Finance against the payment of the sum of 5000 FCFA (about 7 euros), representing the costs of tax. They are here to make transfers to foreign countries. Most to Spain. José Bayo, tries to send the sum of 3 million to his children reside in Madrid. He does not succeed because, according to him, “there is bad faith here. The agent who receives us just tells us that it is a law of cemac, we can not send more than a millio
At the origin of this restriction, money laundering in the countries of the CEMAC zone, according to Ona Ondo Edu, Equatorial Guinean financial expert, “the sub-region faces several crises, oil, terrorism, Embezzlement, and money laundering. Our states are no longer able to control these flows. It is for this reason that the BEAC (Bank of Central African States), following the instruction of the heads of State of the sub-region, has taken this decision, which applies not only to Equatorial Guinea but to the entire zone . It is true that the fall in oil prices also has a lot to do with this decision.”