Central African Rep Country Summary
Sanctions
UN & EU sanctions in place
FATF AML Deficient List
No
Terrorism
Corruption
US State ML Assessment
Criminal Markets (GI Index)
EU Tax Blacklist
Offshore Finance Center
Please note that although the below Summary will give a general outline of the AML risks associated with the jurisdiction, if you are a Regulated entity then you may need to demonstrate that your Jurisdictional AML risk assessment has included a full assessment of the risk elements that have been identified as underpinning overall Country AML risk. To satisfy these requirements, we would recommend that you use our Subscription area.
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Anti Money Laundering
FATF Status
Central African Republic is not on the FATF List of Countries that have been identified as having strategic AML deficiencies
Compliance with FATF Recommendations
The last Mutual Evaluation relating to the implementation of anti-money laundering and counter-terrorist financing standards in the Central African Republic was undertaken in 2023. According to that Evaluation, the Central African Republic was deemed Compliant for 3 and Largely Compliant for 11 of the FATF 40 Recommendations. It was deemed Highly Effective for 0 and Substantially Effective for 0 of the Effectiveness Compliance ratings.
Sanctions
As a UN member, this country must adhere to sanctions imposed by the UN Security Council to maintain international peace and security. Since 1966, the Security Council has established 31 sanctions regimes, which include economic sanctions, arms embargoes, and travel bans, with a focus on protecting the rights of those targeted. Currently, there are 15 ongoing sanctions regimes aimed at political conflict resolution, nuclear non-proliferation, and counter-terrorism, managed by a sanctions committee.
The Central African Republic is subject to various international sanctions, including an arms export ban and asset freezes for listed individuals and entities. The U.S. also restricts defense exports to the country, allowing exceptions for support of UN missions and security sector reform. These measures aim to enhance security and support peaceful transitions in the region.
Bribery & Corruption
| Rating | 0 (bad) - 100 (good) |
|---|---|
| Transparency International Corruption Index | 24 |
| World Bank: Control of Corruption Percentile Rank | 9 |
Corruption poses a significant risk for companies in the Central African Republic (CAR), particularly following the political instability and violence that erupted after the 2013 coup. The pre-existing corruption issues have worsened, contributing to the fragility of the state, with bribery and extortion being widespread. Despite CAR's ratification of the United Nations Convention Against Corruption, efforts to combat these issues remain minimal.
Economy
The Central African Republic (CAR) has a predominantly agricultural economy, with agriculture contributing approximately 43.2% to its GDP. Despite its wealth of natural resources like diamonds and gold, the country remains one of the poorest in the world, facing challenges such as ongoing civil conflict, weak infrastructure, and a heavy reliance on informal sectors.
The investment climate in the Central African Republic is significantly hindered by ongoing civil unrest, political instability, and weak governance, resulting in a poor ranking on the World Bank's ease of doing business index. The underdeveloped legal framework and regulatory environment further deter foreign investment, although there are potential opportunities in agriculture and mining if security and governance conditions improve.
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- Risk Analysis
- Corruption
- Economy
- Sanctions
- Narcotics
- Executive Summaries
- Investment Climates
- FATF Status
- Compliance
- Key Findings
