Reflections on a special legal category : credit institutions of systemic importance under Cameroonian law

Meeky Ebjaff Ngum

University of Dschang, Cameroon


pp. 27-49

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Abstract : This piece concerns itself with a special category of credit institutions that has emerged in recent years, as a construction of insolvency law. It ponders upon the justifications for the existence of this peculiar but yet little understood legal category as well as its legal implications. Our findings reveal that the emergence of credit institutions of systemic importance is underpinned by both theoretical and practical imperatives, relating to the special law of bank insolvency. It is also justified by the proven ineffectiveness of traditional resolution tools in the resolution of this category. This notwithstanding, both economic and legal analysis do not clearly demarcate the borderlines of this notion, leaving it to be determined as a matter of urgency by banking supervisors during insolvency. The practical implications are primarily the application of a derogatory regime of insolvency rules. This work holds that the intended benefits of this institution can only be fully reaped, if its contents are fully regulated by law, for practical reasons relating to both the prevention and resolution of bank insolvency.

Keywords : Cameroonian law, Credit institutions, Restructuring, Insolvency law, Difficulties, Cemac regulations.

Mr. Meeky Ebjaff Ngum earned his bachelor’s degree in Law and Political Science, as well as a Master’s Degree in “International Trade and Investment Law in Africa” from the University of Dschang (Cameroon). He is currently a PhD candidate in the same university. He wrote two other articles on the area of CEMAC Banking Law. His research interests include corporate law and commercial law, which he taught for two years. The author can be contacted at

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