Decision on the Interm Report on the Establishment of Financial Institutions

DECISION ON THE INTERIM REPORT ON THE ESTABLISHMENT
OF FINANCIAL INSTITUTIONS
Doc. EX.CL/217 (VIII)

The Executive Council:

1. TAKES NOTE of the Interim Report;

2. RECALLS Assembly Decision AU/Dec.64 of the Fourth Ordinary Session of the Assembly allocating the Headquarters, among others, as follows:

1. The African Central Bank to West Africa;

2. The African Investment Bank to North Africa; and

3. The African Monetary Fund to Central Africa.

3. ALSO TAKES NOTE of the nomination of the Great Libyan Arab Jamahiriya by North Africa to host the headquarters of the African Investment Bank;

4. REQUESTS the Central and West Africa regions to take the necessary steps to communicate the names of the countries hosting the African Monetary Fund and the African Central Bank respectively to the Commission by 31 March 2006;

5. ALSO REQUESTS the Commission to take all the necessary steps to set up the Technical Steering Committees in relation to the establishment of the institutions mentioned-above;

6. FURTHER REQUESTS the Commission to submit a Report to the next Ordinary Session of the Executive Council.