The deputies adopted four of the eight bills submitted to their assessments on 21 March 2022 in the National Assembly. Consideration of the remaining four projects is ongoing.
On March 30 in the lower house, the elected representatives of the nation validated the texts related to the Ordinance of December 29, 2021 on the 2021 Finance Law. This law had capped the cumulative amount of the State's debt at 650 billion CFA francs. Of this amount, 350 billion CFA francs are reserved for concessional loans. And 300 billion CFA francs for non-concessional loans.
Subsequently, the deputies adopted the protection of banking secrecy in Cameroon. This law consists of the moral obligation of the staff of banking institutions not to disclose to third parties personal information about their customers.
As for the 3rd law, it ratifies the statute of the Organization of Islamic Cooperation for Food Security (OISA). By being a member of this institution, Cameroon will benefit from its expertise on the various aspects of sustainable agriculture.
Finally, the deputies approved Cameroon's accession to the agreement establishing the institution of the pan-African risk management mutual (ARC). This ratification will allow the country to access the CRA's financial resources. It will be eligible for insurance services against extreme weather events and natural disasters.
