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World Bank – US Federal Reserve Training Course – November 3-7, 2 003. ACCESS to FINANCIAL SERVICES PAYMENT INFRASTRUCTURE REFORM Case Study Central Africa CEMAC / BEAC Charlie Garrigues The World Bank Cgarrigues@worldbank.org. World Bank Developmental objectives.
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ACCESS to FINANCIAL SERVICESPAYMENT INFRASTRUCTURE REFORMCase Study Central Africa CEMAC / BEAC
The World Bank
One currency CFA , one Central Bank BEAC
How to measure and assess
the present situation and the GAP with development objectives ?
A few access indicators
=>Huge gap between countries and regions
Europe: 150, Central Africa : 3 => objective : 10 in five years
+ 2 new millions clients having access to Banks services
Europe: branches 700, ATM: 600, POS 11000
CEMAC : 50, 3, 10
Europe : 135 CEMAC (2000): 0. 03
To reach Europe activity
CEMAC would have to multiply present volumes by 4 500 !
2008Project ObjectivePresent volumes multiplied by 50 in five years
Interbank transactions number/ inhabitant /year
50 000 000
1 000 000
Success will require a huge effort by all stakeholders
BEAC (head office)
Real time and Final Settlement in Bank’s accounts hold in BEAC Head office under the control of National offices
HQ Commercial Bank A
HQ Commercial Bank B
Main Objectives: security, finality, regional integration
Send continuously files of electronic transactions
files of electronic transactions
Net Clearing System
MULTILATERAL BALANCESOnesingle Bulk Clearing System for all instrumentsin Each country plus one regional system
Card holder accounts management
ATM and TPE management telecollection of ransactions
CPC Interbank functions
Interbank fees calculation
SI banking system
? Bankwithout IS Card ?
An open interbank card systems architecture
How to respond to various stages
of commercial banks’ card systems development
Project : Two Card processing centres servicing all banks with « common and private » functions
A big challenge !
To agree to share investments with the objective
of reducing costs and maintaining competition
Payment Reform Process
workshop organizational principles
80 to 100 participants: « experts » directly involved in the implementation and use of the architecture
Beyond Procurement Process many areas should be covered in parallel
ONE MAJOR KEY SUCCESS CONDITION
OF HIGH LEVEL DECISION MAKERS