AACB: Maurice Welcomes African Central Banks

10 years, 9 months ago - July 12, 2013

The Bank of Mauritius (BoM) will host the 19th to 23rd August at the Maritim Hotel, Balaclava, the 37th meeting of the Association of African Central Banks (AACB).

Governor of BoM, Manou Bheenick currently occupies the Vice-President of the AACB, the Chairman being the governor of the Bank of Algeria, Mohammed Laksaci. AACB to date includes the central banks of 40 Member States.

According to the website of the AACB, the idea of creating such an association was raised for the first time in May 1963 at the Conference of Heads of African State and Government held in Addis Ababa, Ethiopia. African leaders had then unanimously approved the establishment of a preparatory committee for the economic study of a series of monetary and financial issues, in collaboration with governments and after consultation of the Economic Commission of the United Nations Africa (ECA).

The first meeting of the governors of the AACB held in Addis Ababa in February 1965 to discuss a cooperation mechanism and its corresponding organs. At the same meeting, it was decided to create sub-regional committees composed of members or their representatives.

Besides a Board of Governors (governing body whose members are the governors of African central banks) and an office (composed of the President and Vice-President of the AACB and Chairpersons of sub-regional committees), five sub-regional committees were formed.

secretariat of the association is the headquarters of the Central Bank of the West Africa in Dakar, Senegal.

Text by Le Mauricien

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