Cameroon's banking secrecy law did not anticipate developments in the financial sector. To extend banking secrecy to microfinance and electronic payment operators, the government has just tabled with parliamentarians a bill governing banking secrecy.

With their procession of risks linked to the development of criminal activities such as the financing of terrorism and cybercrime, developments in the financial sector will soon be taken into account in the law on banking secrecy. The text now takes into account microfinance and electronic payment operators.

In the explanatory memorandum to the said bill, we learn that, " in view of the developments recorded in the financial and technological sector " , certain aspects of the law in force up to now , which is 18 years old, are become obsolete . If the draft text is passed as it stands, microfinance establishments and electronic payment operators will henceforth be subject to banking secrecy like ordinary banks.