Banking & financial law

Banking & finance law & regulation hinges on Cameroon’s membership of the Economic & Monetary Community of Central Africa (CEMAC) which has as two of its key organs the Bank of Central African States (BEAC) and the Central African Banking Commission (COBAC). This regional organisation as well as the parliament of member states share law-making powers in matters of banking & financial law.

Besides those relevant OHADA uniform acts in areas such as commercial law, commercial companies, debt recovery & measures of enforcement, security interests, cooperative societies, as well as domestic consumer protection laws, the banking & financial legal framework cuts across CEMAC regulations on the banking activity in the region, regulations on the restructuring of credit establishments, regulations on bank participation in the capital of commercial companies, rules determining the minimum capital of credit establishments, rules on the creation of branch and liaison offices of credit establishments, rules on the licensing (chartering) of credit establishments, rules on refinancing of credit establishments, bank supervision and control rules, money market rules, financial market regulation, financial market control and supervision, licensing of bank establishments for the provision of investment services, rules on the management of the electronic negotiation system, rules on guarantee mechanisms for financial markets, rules on the issuance and management of public negotiable instruments, rules on money laundering & terrorism financing, financial crime, foreign exchange regulation & supervision, rules on the accounting & reporting of currency operations, rules on the justification of international transfers and deposits on Nostro accounts, electronic money regulation, payment systems regulation & supervision, banks secrecy, regulation on systems, means and incidents of payment (checks, bills of exchange, letters of credit, etc), microfinance regulation, mobile banking regulation, rules on the liquidation of credit establishments, prudential standards & bank risk management rules, restructuring of credit establishments, rules on the structure of client credit portfolio of credit establishments, accounting regulations for credit establishments, regulation fixing the fees of banking services, etc.

As recently as July 2016, an innovative law governing undertakings for collective investment in transferrable securities (UCITS) was enacted in Cameroon, which touches on all the liquid assets and transferable securities posted on the assets side of the balance sheet. It was enacted to complement the laws governing financial markets (1999), the law on the dematerialisation (electronic format) of securities in Cameroon (2014), regulation on the condition for issuing and managing negotiable debt securities (2014), etc.
Banking & finance law is a technically complex and constantly evolving area of law. Dayspring Law Firm represents both providers of financial products and users (consumers). We assist borrowers and lenders on the transactional elements of arranging deals. We advise on the law of security interests (OHADA uniform act on security interests), and draft complex financial contracts.
There are at least fifteen (15) commercial banks in Cameroon and a little more than four hundred (400) microfinance institutions. Dayspring Law Firm provides legal advice to clients through negotiation, structuring, and handling financial arrangements, conducting due diligence, and ensuring that our clients comply with applicable laws & regulations, and investment regulations.

We provide legal counselling on contractual relationships between lenders and borrowers, bank lending, property finance, mortgage lending, structuring & project finance, large scale infrastructure finance (airports, roads, bridges, power stations, oil & gas, mining projects, schools, hospitals, & prisons under PPPs, etc.), leverage finance, assets finance, Islamic finance, syndicated loans, etc.
We assist clients to assess legal risks in international project finance and draft international project finance contracts. As corporate finance lawyers, we accompany start-ups, entrepreneurs, and medium and large businesses in sourcing funding to inject into their capital investment needs and business operations and help structure financial deals. We also assist clients in the financial structuring of infrastructure projects in PPPs and public contracts.
We equally help our clients to surf through international banking and finance regulations, especially those relating to anti-terrorism, money laundering and financial crime prevention.
Our lawyers have worked with several credit establishments to assist them to design internal oversight & regulatory compliance program, they have advised banks, corporations and government agencies in connection with PPP financing of construction and maintenance projects, advised several groups of lenders in syndicated borrowing facilities for businesses in the mining and oil and gas sector, conducted due diligence within the framework of various financing deals, advised banks on medium and long-term credit facilities, provided legal advice relating to large scale bond transactions, drafted several loan agreements, advised on cross-border credit facilities, accompanied lenders in project financing deals in the power and energy sector, etc.