The exercise of the activity of Microfinance is subject to the approval of the Monetary Authority after approval by COBAC, which is why the accreditation committee sits at the Ministry of Finance. The files are reviewed and examined by the members of the committee under the chairmanship of the Director General of the Treasury of Financial and Monetary Cooperation, representatives of the professions of the structures in charge of Microfinance within the Ministry, the representative of the Secretary General, and the Legal Affairs Division. Files that do not have any anomalies are forwarded to COBAC for approval. To obtain approval, the EMF’s application for approval is accompanied by that of its Managers and Auditors and is submitted in duplicate to the Monetary Authority. In particular, it must include the following documents

Approval file for Statutory Auditors (CAC) for independent EMFs or umbrella bodies

CAC/natural person

• • A copy of a birth certificate ;
  • Two (02) passport photos ;
  • A curriculum vitae dated and signed ;
  • Copies of diplomas ;
  • An extract from the minutes of the appointment of the person concerned ;
  • A certificate of residence ;
  • A criminal record extract ;
  • A valid residence permit for foreigners ;
  • A copy of the CEMAC certificate of approval as an accountant or chartered accountant ;

 

CAC/Corporate entity

• • The statutes ;
  • A copy of the registration certificate (RCCM) in the country of origin ;
  • A copy of the registration certificate (RCCM) in the country where the activity is carried out extracted from the minutes of the designation by the EMF
  • A certificate of non-bankruptcy ;
  • A copy of the CEMAC approval act ;