The Association of African Central Banks (AACB) will examine Haiti's request for membership on Thursday, an official source in the Egyptian central bank told Amwal Al Ghad on Wednesday. AACB accepts membership requests from African Union member countries only, the source said, but he referred to recent changes saying the association's Bureau approved last February to add Haiti as an observer. Founded in 1965, AACB works on promoting monetary, banking, and financial cooperation besides helping maintaining financial stability in the African region. AACB, as of today, has an Assembly of Governors, the governing body of which are members all African central banks governors, a Bureau, composed of the chairperson and the vice-chairperson of the association and chairpersons of sub-regional committees. There is also the sub-regional Committees, composed of Governors of Central Banks of the five sub-regions as defined by the African Union. The association has all the African central banks as members except for Eritrea and South Sudan, the source said, adding that the latter will become a member soon. "AACB and South Sudan officials recently held an unofficial meeting, which included Bank of South Sudan deputy governor and the association's secretary, to discuss membership options," the source said on the sidelines of the 41st meeting of AACB in Sharm El-Sheikh.
