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Sarkari MCQs Government Exam Question Bank
Question no. 44539

When was the Bank of Central African States, headquartered in Cameroon, established?

Select your answer for: When was the Bank of Central African States, headquartered in Cameroon, established?
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Answer: B. 1972

Explanation

The Bank of Central African States was established by convention in 1972. Cameroon serves as the headquarters location for this important regional bank. Member nations share a common currency managed through this central institution. Regional monetary unions require central banks to manage currency and interest rates. International financial conventions establish legal frameworks for cooperative banking. Central African economies benefit from shared monetary stability policies.

Commercial banks operate under regulations set by regional monetary authorities. Economic integration helps developing nations strengthen their financial markets. Monetary policy coordination fosters regional trade and investment opportunities. 1971 is slightly too early for the official convention establishing the bank. 1973 is incorrect because the founding occurred the previous year. 1974 misidentifies the year when the central banking institution was created.

Subject
General Knowledge
Category
General Knowledge
Topic
—
Difficulty
medium

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