Includes special features of this country’s banking system and rules/laws that might impact U.S. business.
Last Published: 7/18/2017

The Bank of the Central African States (BEAC), headquartered in Cameroon, regulates the banking system. Overall authority for Republic of Congo's banking system rests with the Ministry of Finance.

Within the BEAC is the Banking Commission of Central African States (COBAC), which ensures the legality of the operations carried out by financial institutions. BEAC issues the currency and controls liquidity within the zone. The interest rate structure is common to all member countries of the zone. Within the CEMAC zone, the CFA franc circulates freely and may be freely converted to other currencies through the banking system. The West African CFA franc is not accepted in the CEMAC zone.

Credit cards are used infrequently. Foreign-issued credit cards may not work in the Republic of Congo. VISA is the most universally accepted, but there is no guarantee that U.S.-issued card chips will be compatible with local vendors.

The Republic of Congo's banking system includes eleven commercial banks.  Commercial banks offer most corporate banking services, or can procure them from overseas. Local credit to the private sector is limited and expensive, but available to both foreign and local investors on equal terms. The country's main economic actors, the oil companies, finance themselves outside of the Republic of Congo. Commercial banks have transferred excess liquidity to correspondent banks outside the region.
 

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