From 1 September 2020, a new system for the processing of financial transactions between customers and the Bank of Central African States, BEAC, will be rolled out. The system, known as eTransfer, has been developed after several weeks of trial, the Governor of BEAC, Chadian-born Abbas Mahamat Tolli, said in a statement early this month.

β€œFollowing tests that have been carried out since 26 February 2020, and the satisfactory results recorded so far, I hereby announce to all business actors that the eTransfer application will go into use as from Tuesday 1 September 2020. As from this date, the treatment of all files by way of electronic messaging will be abandoned in favor of eTransfer exclusively,” a statement issued by the BEAC Governor indicated.

He said the introduction of eTransfer falls in line with the efforts of the six-member country central bank to dematerialize its operations to enhance efficiency and customer satisfaction. BEAC serves countries of the Economic and Monetary Community of Central Africa (CEMAC) which include Cameroon, Central African Republic, Chad, Equatorial Guinea, Gabon, and the Republic of Congo.

eTransfer application will be accessible to all BEAC customers

β€œWithin the framework of the optimization of this dematerialization process, BEAC initiated the putting in place of a platform called eTransfer. This application, which will be accessible to all actors, will permit banks and public treasuries to the summit, through their respective websites, all their demands which will in turn be treated by the central bank,” the BEAC Governor explained in a statement seen by iAfrikan.

He added that with the eTransfer system, customers will be able to have follow-up information and monitor how their demands are being processed by the central bank. β€œeTransfer ensures traceability and makes available information for follow-up in real-time to commercial banks, public treasuries as well as other economic actors who have initiated dossiers,” the Governor said. Tolli added that the application can be accessed on the BEAC website and that a customer service team will be on standby to respond to queries of users via electronic mail.

The eTransfer application, in its current form, is the first phase of a vast program embarked on by BEAC for the modernization of its operations with its users.

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