This module will not be further enhanced. Support is limited to defect fixing only.

Introduction to Balance of Payments

BEAC (Central African States Bank) requests banks under its control to declare the financial transactions carried out by its customer (residents and non-residents) in foreign currency monthly.

The transactions that are expected to be reported are cash deposit, withdrawal, transfer of money to other accounts, payment to abroad, standing instructions, currency exchange, etc. All transactions can be executed either by the teller or by the customer (ATM withdrawal, internet transfer, etc.) through various channels provided by the bank.

The transactions have to be reported in the .txt file format before the 15th of every month for the previous reporting month. Details about customers who are part of such transactions also need to be reported in a separate file (either individual or corporate). BEAC provides a protocol document to refer to generate these files. Pre-defined values have to be referred from the protocol document.

Out of such transactions, the bank has to filter only the foreign currency transactions to report them to BEAC monthly. Hence, during the execution of the transaction, the system identifies the currency of such transactions and makes a separate list with the ones that are carried out in foreign currencies (other than XAF).

The declaration that will be sent to BEAC contains the following details:

• Beneficiaries or principals of financial transactions: These are the natural persons (individuals) or legal entities (companies, administrations, etc.).
• Financial transactions by the economic agent: These are details of money transfer transactions with non-residents, but also with residents in some cases, including those carried out by the reporting institution for its benefit and/or on its own account. These operations can take the following forms: standing transfer orders, manual exchange (buying and selling currencies, transfers received or issued, transactions on foreign currency accounts, traveller’s cheques.

Every transaction that happens on an account in Temenos Transact is written into the STMT.ENTRY application upon getting authorized and it has all basic details about the transactions. A unique reference called Transaction reference is part of the STMT.ENTRY and using the same, information can be retrieved at a later stage from the respective applications.

Whenever the STMT.ENTRY application is getting generated as part of the authorisation process, the entry will be validated based on the currency, type of the account, etc, to filter the foreign currency transactions. The foreign currency transactions are written into a staging application and the batch process processes the entries from the staging application and generates the required files through the interface tools.

The AFRBOP.BOP.PARAMETER application has been introduced to store some of the information required for the file generation process and for defining the extraction period. The GENERATE.BATCH.XML service is created to fetch the entries from the concat application and the related details will be retrieved from the AFRBOP.TXN.DETAILS, STMT.ENTRY and CUSTOMER applications. The service can be executed as part of COB and also manually by the user on an ad-hoc basis, and the files will be generated based on the start and end date of the parameter application values.

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