Article 51 — CEDEAO Traite-revise-1993

MONEY, FINANCE AND PAYMENTS In order to promote monetary and financial integration, and facilitate intraCommunity trade in goods and services and the realisation of the Community's objective of establishing a monetary union, Member States undertake to: 32 ECOWAS REVISED TREATY a) study monetary and financial developments in the region; b) harmonise their monetary, financial and payments policies; c) 1. 2. d) e) f) g) facilitate the liberalisation of intra-regional payments transactions and, as an interim measure, ensure limited convertibility of currencies; promote the role of commercial banks in intra-community trade financing; improve the multilateral system for clearing of payments transactions between Member States, and introduce a credit and guarantee fund mechanism; take necessary measures to promote the activities of the West Africa Monetary Agency in order to ensure convertibility of currencies and creation of a single currency zone; establish a Community Central Bank and a common currency zone.