(1) Credit providers shall be required to offer their customers products and services tailored to their needs, taking into account their repayment capacity in order to avoid any risk of loan default or debt distress.
(2) They shall also be bound to communicate to customers, on a regular basis, complete information on the cost and quality of the products and services offered them.
(3) In the event of a prior loan offer, the credit provider shall be required to provide any pre-contractual information to inform the customer's consent.
Official text
Transcription: Machine-parsed
In force from 24-12-2019
Source page 5
Lex Cameroon does not hold a French version of this provision. You can read an unofficial machine translation — for understanding only, never to quote.
Section 5 of the Law No 2019/021 of 24 december 2019 to lay down some rules governing credit activities in the banking and mico-finance sector in Cameroon/akn/cm/act/loi/2019-12-24/301-law-no-2019-021-of-24-december-2019-to-lay-down-some-rules-governing-credit-activities-in-the-banking-and-mico-finance-sector-in-cameroon
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